A Ghost's ETH Market Analysis This Morning
ETH made another push this morning, reaching a high of 4957 before retreating to the 4740-4800 range, failing to hold above the 4900 level. On the 4-hour chart, short-term pressure is evident, with significant selling pressure above. Currently, the key support level is at 4700; if it breaks, it may drop to 4600. If it can hold and regain volume, there is still a chance to retest the psychological resistance at 5000. Recent fluctuations have been intense, so please pay attention to risk control.
A Ghost's personal analysis of ETH's future market: ETH pushed up again this morning, reaching a historical high of 4957 before retreating to the 4740-4800 range. Currently, both bulls and bears are fiercely contesting near the key psychological level of 4900, with obvious short-term pressure, but the overall structure remains relatively strong.
Summary: From a technical perspective, short-term support is focused on 4700; if it breaks, the correction may deepen to the 4600-4550 area. A key resistance level above must break and hold above 4900 to rise to 5000 and even 5200 to open up space.
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