Glassnode Data: ETH faces resistance at $4500 +1σ realized price, which was a barrier in March 2024 and the previous bull market.
ETH has rebounded 160% from the April low, but this threshold is like a hurdle; if broken, it will soar, but if not, a correction may occur.
Combined with the surge in PoS exit queue, there is a significant divergence in the market.
Personally, I believe that favorable regulations and institutional entry will help it overcome this barrier. I suggest keeping a close eye on BlackRock's ETF inflow of $1.2 billion to buy ETH, which may aim for a dream of $70,000 in the future.
ETH has rebounded 160% from the April low, but this threshold is like a hurdle; if broken, it will soar, but if not, a correction may occur.
Combined with the surge in PoS exit queue, there is a significant divergence in the market.
Personally, I believe that favorable regulations and institutional entry will help it overcome this barrier. I suggest keeping a close eye on BlackRock's ETF inflow of $1.2 billion to buy ETH, which may aim for a dream of $70,000 in the future.