$ETH is approaching the historical high point of 4877, and this position needs to be viewed calmly.
Based on years of market experience, breakthroughs at key positions often do not happen all at once.
The market typically shows three characteristics at this position:
Short-term funds will take profits near the previous high
The main force needs to create fluctuations to complete the chip exchange
The first impact is prone to false breakthroughs
What we need to do is observe the trading volume; effective breakthroughs require significant volume increase.
Consider partial profit-taking above 4900.
Pay attention to the defense situation at the 4500 support level.
If there is a volume breakthrough above 4900 and it stabilizes, the next target looks towards the 5200-5500 range.
If it oscillates between 4500-4900, then we need to wait for new catalysts.
The worst-case scenario is breaking below 4500, which may test the 4200 support.
The most important thing currently is to maintain patience and not let short-term fluctuations interfere with judgment. Real market trends often unfold after repeated oscillations. This will be your opportunity to succeed in this round of the bull market.
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