When Ethereum reached the key price level of $3000, the market's enthusiasm was indeed extraordinary. It is not an exaggeration to describe it as a blazing fire with dry tinder—long-accumulated bullish sentiment is just waiting for a moment to ignite. From a technical perspective, this price point corresponds to the convergence of multiple important support and resistance levels, and once it holds above, it often triggers a chain reaction. On-chain data is also telling a story: large investors are continuously building positions, trading volume has significantly increased, and market participation is noticeably different from usual. In the short term, such breakthroughs often tend to self-reinforce—the rise attracts followers, and the followers further push up prices. Of course, this kind of market also tests one’s mentality; it cannot be rushed. It remains to be seen whether this momentum can be sustained, whether it will break through or pull back to recharge.

ETH1.85%
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