#ETH5kNext? **Breaking Down Ethereum's $4,700 Price Test**

Ethereum recently retreated from the $4,700 level, currently trading at $4,692 with a 4.48% 24-hour gain. This movement suggests:

- **Resistance Test**: $4,700 appears to be acting as a psychological barrier

- **Healthy Correction**: The pullback follows a strong upward trend

- **Market Sentiment**: Maintained positive daily gain indicates continued interest

Key factors to watch:

1. BTC correlation strength

2. ETH/BTC pair performance

3. Upcoming network upgrades

Traders should note:

- Short-term volatility likely to continue

- Higher timeframes remain bullish

- Important to distinguish between correction and trend reversal

#Ethereum #ETH #TechnicalAnalysis #CryptoMarkets #write2earn

Objective analysis of Ethereum's recent price action around the $4,700 level.