Ethereum's new high is still to come, it's just a wave of liquidation before the final push.
As for the strength of the pullback, it's unclear, but there's no problem buying the dip at the 4-hour EMA.
$ETH
Currently, Ethereum has reached around 4650, a near recent high, looking very energetic to break through the historical high and potentially surge to the psychological barrier of 5000. However, based on historical experience, crossing such key points as historical highs and the psychological barrier of 5000 will not be smooth sailing. The reason is simple: it's not that there isn't the strength to pass, but rather that the topics and fundamentals that can be speculated in the crypto world are inherently limited. Major players will also use these important positions to create some events. If it were to just pass through easily, wouldn't that waste the valuable resources that have been painstakingly accumulated over the years? Therefore, as we approach the previous highs, the closer we get to that final push, the more cautious we need to be.
Key level gaming logic:
1. The historical high itself is a natural psychological resistance, and many short-term funds will take profits ahead of time.
2. The psychological expectation of the round number 5000 is stronger, often accompanied by increased volatility and false breakouts during the impact process.
3. If the main force directly pulls it through in one go, it may lose the opportunity to create volatility and turnover, so a more likely scenario is “false breakout - pullback - true breakout.”
Therefore, special attention should be paid to trading volume in this range. Based on historical experience, when approaching key levels, it is often accompanied by a rapid increase in trading volume, but once the volume does not cooperate, the “high pullback” trap is likely to occur.
#ETH突破4600 #以太坊创历史新高倒计时
Currently, Ethereum has reached around 4650, a near recent high, looking very energetic to break through the historical high and potentially surge to the psychological barrier of 5000. However, based on historical experience, crossing such key points as historical highs and the psychological barrier of 5000 will not be smooth sailing. The reason is simple: it's not that there isn't the strength to pass, but rather that the topics and fundamentals that can be speculated in the crypto world are inherently limited. Major players will also use these important positions to create some events. If it were to just pass through easily, wouldn't that waste the valuable resources that have been painstakingly accumulated over the years? Therefore, as we approach the previous highs, the closer we get to that final push, the more cautious we need to be.
Key level gaming logic:
1. The historical high itself is a natural psychological resistance, and many short-term funds will take profits ahead of time.
2. The psychological expectation of the round number 5000 is stronger, often accompanied by increased volatility and false breakouts during the impact process.
3. If the main force directly pulls it through in one go, it may lose the opportunity to create volatility and turnover, so a more likely scenario is “false breakout - pullback - true breakout.”
Therefore, special attention should be paid to trading volume in this range. Based on historical experience, when approaching key levels, it is often accompanied by a rapid increase in trading volume, but once the volume does not cooperate, the “high pullback” trap is likely to occur.
#ETH突破4600 #以太坊创历史新高倒计时
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ETH
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