Why hasn't $ETH been able to break through yet?

#ETH has grown back. But perhaps it is not certain that it will continue to grow. From an analytical standpoint, in my personal opinion, there are a few reasons as follows:

1. $ETH has hit the resistance level which is the upper trendline. This is the line that ETH had broken through earlier to confirm the downward trend.

2. The current retracement wave of ETH is at the 0.5 ratio according to the Fibonacci chart I drew. The price reaction at the 0.5 level is clearly shown in the weekly candles with long wicks, indicating a price contest between buyers and sellers.

3. The moving average MA99 has risen above the moving average MA25, while the MA7 has yet to break upwards. The price being resisted by the MA99 line is inevitable. It is very likely that the price will be pushed down significantly here.

4. The Ichimoku cloud in the weekly timeframe still shows no positive signs. ETH's price is still below the cloud. This wave of ETH is approaching the top of the cloud and has reacted to the price here. However, the cloud is forming a sideways trend, and there may be a contest between buyers and sellers in the coming days.

In summary, $ETH is facing a significant resistance to breaking through. If it wants to go up, it is likely to be very difficult. But if it can break this resistance, $4000 may very well return. If it fails, the tragedy of 1xxx$ will become a reality. Be cautious and manage your risk.