When a digital coin moves without the "godfather" of leverage, that is a sign that something big is brewing. Ethereum is at that key point, and $4,700 is the litmus test!
My people! What is happening with Ethereum (ETH)? 🤔 Unlike other rises where funding rates were on fire 🔥 (a sign that people were betting with borrowed money and that is a risk), this time it is different. The price of ETH has risen steadily, with funding rates almost at zero, which means the momentum comes from the real market, from people buying with their own money. That is the kind of rise we like to see! 😎 It's a sign that the rally is healthier and won't explode at the first opportunity.
But not everything is rosy. 😬 Just when we thought it was going to the moon, ETH hit a wall: $4,700. This price is like the final test for ETH, a level where it has historically encountered resistance and retreated. Will it break through this time or will it have to backtrack? 📉
Moreover, there are other signals that make us think. The "Stock-to-Flow" ratio of Ethereum has skyrocketed to 47.7, a figure that hasn’t been seen in months. This means that the supply of ETH is tightening, but at the same time, these spikes are usually accompanied by volatility. 🎢 Be careful, things could get moving.
And as if that weren't enough, the metric "MVRV" (which measures profitability) tells us that people who have held ETH for a long time are making good money, much more than those who bought recently! This could be good, but it also creates the temptation for old holders to sell to secure their profits, which could lower the price. 💸
So, the dilemma is clear: Ethereum has a strong and healthy rally driven by the market, but it faces historical resistance. The battle at $4,700 is what will define whether we continue the party or have to wait for the next one. The question is: will the bulls have the strength to break that ceiling or will the bears take them down?
Stay tuned, because what happens in the next few days with ETH not only affects this coin, but it affects the entire market! 🧐$ETH
