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Ethereum Market Analysis: Breakthrough Expectations and Target Outlook Under Strong Rebound

Ethereum has shown an extremely strong rebound recently. After the speech by Federal Reserve Chairman Powell, it surged 10% in a single day. As of the market opening on the 23rd, the price has broken through the previous high of 4788, with a high probability of further breakout. If it successfully breaks this point, the next target will challenge the previous bull market high of 4868; once it surpasses 4868, we can look towards 5600 in the short term, while the medium-term target points to the previously anticipated 6700.

From the weekly chart perspective, it continues the previous viewpoint:

- If we categorize based on the last bull market cycle, we are currently in a third wave upward structure.

- If we analyze it in the context of historical overall trends, it belongs to a five-wave upward structure.

- From the low of 1385 to the point of 4100, the proportionate calculation also targets 6700.

Regarding the market voices suggesting that Ethereum will rise to 15,000 or 20,000, it is recommended not to overly focus on this to avoid judgment being influenced by 'fear of missing out (FOMO).' It is essential to adhere to the principle of going with the trend. It is important to clarify that during a bull market, there is no need to prematurely predict the top, and the core principle is 'no short selling in a bull market.'