$ETH 4600: The market has officially entered an acceleration phase. Breaking through 4600, ETH has formed a very critical technical pattern. Previously, it oscillated repeatedly in the 4200-4400 range, and many thought the market was weak, but in fact, the main players were quietly accumulating. Now, once it breaks through, it means the oscillation range has been completely broken, and the market enters a new acceleration phase. On-chain data also confirms this: the staking volume continues to rise, circulating chips are in short supply, and supply pressure is very low. On the demand side, due to the popularity of DeFi and NFTs, demand is increasing, and the supply-demand relationship is driving prices higher. Psychologically, 4600 is a watershed; once broken, FOMO sentiment will be fully ignited. Saying that the bull market is back is not emotional, but a conclusion drawn from both funds and data. The target of 6000 is not far away.
