$ETH Surges 16% Overnight to Become a Superstar! 4800 Point Massive Selling Pressure, Is the Next Move a Golden Pit or a Panic Wave?

Ethereum's single-day surge of 16% has directly set a new all-time high, breaking through the previous high of 4868 from December 2021. Such a level of increase is rare to see even a few times a year, let alone completed in one night; catching a market like this can keep you comfortable for an entire year.

From the market perspective, there is almost no resistance in the 4200 to 4800 range, and prices are rising as if pushed flat. However, after reaching 4800, the pressure starts to show; when a new high of 4880 is reached, there is significant selling pressure, with the 4-hour chart closing with a long upper shadow doji. Many holders of spot positions at the bottom completed their chip turnover above 4800, selling their low-position chips to retail investors chasing highs. The market could not withstand this wave of selling pressure, leading to a natural correction.

Currently, this correction is actually quite healthy, and the market sentiment is not as FOMO as I imagined. There are quite a few people who missed out on this surge; we can focus on the support situation in the 4620-4570 range. If this position can stabilize, I will choose to go long. Here's the key point! ETH has already broken the previous high, and now we can look for some strong coins to invest in. I have already listed the bottom-fishing candidates! Expecting 5-8 times returns, brothers/sisters who want to get rich and recover losses, like and comment, let me see you! #ETH创历史新高 #BNB创新高