Analysis: Ethereum is short in the short term. If it breaks through the US$4600 resistance level, it may be expected to hit US$5,000
According to online reports, crypto analyst Ali said that if Ethereum closes above US$4,500 in 4 hours, it will mark a breakthrough in the recent high downtrend line and suggest that bull momentum may be recovering. The next key resistance level is $4,600, and if Ethereum can decisively break through that level, it may open the way for a return to $5,000. However, Ethereum is still trading in the middle of the channel, following the downward trend line. The SuperTrend indicator is still on a sell signal. Unless Ethereum can regain its footing at $4,500 and convert it into support, it will remain short in the short term.
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