$ETH rose 16% overnight, directly breaking the 4868 high point from December 21, marking a new peak. Such a crazy increase is rare within a year, not to mention a 16% rise in one night. As long as you catch the market once, you can enjoy a comfortable year.

From the market perspective, there is almost no pressure from the 4200 to 4800 range, which is directly pushed up. After reaching 4800, the pressure started to gradually increase. The selling pressure at the new high of 4880 is very large, and a long upper shadow doji formed in 4 hours. Most people holding spot positions at the bottom completed their chip exchange above 4800, selling low-priced chips to those chasing high prices. The market couldn't handle this selling pressure and is now undergoing a downward adjustment.

The current pullback is considered healthy, and the market is not as FOMO as imagined. Many people missed this rise. One can observe the support situation at 4620-4570 and choose to go long. $ETH