๐Ethereum Breaks All Time High๐
Market Overview
โข ETH trading at $4,746.99, showing strong momentum with 10.64% weekly gains
โข Recently peaked at $4,887.59, just shy of the $4,891.70 all-time high
โข Breakthrough above $4,300 resistance created new upward channel
โข Market cap stands at $572.1B with robust trading volume of $79.7B
Key Catalysts
โข Standard Chartered raised year-end target to $7,500 citing adoption trends
โข $350M liquidation of ETH shorts amplified upward price movement
โข SharpLink Gaming's $1.5B ETH buyback strategy boosting institutional interest
โข Technical caution signs: RSI approaching overbought levels while BlackRock sold 59,606 ETH
Trading Strategy
โข Critical resistance at $4,891.70 ATH; breakthrough could target $5,000+
โข Short-term support established between $4,600-$4,700
โข Long-short ratio shows majority bullish positions (63.59% by currency)
โข Consider trailing stops above $4,600 and monitor $42.3M recent inflows
Community Sentiment
โข Overwhelmingly bullish sentiment (84.38%) on Binance Square
โข Institutional activity and resistance breakouts driving positive outlook
โข Mixed signals from technical indicators suggest potential short-term consolidation
โข Most analysts expect continued upside after the current resistance test