[Analysis] "Ethereum rebounds, holding 4,300-dollar support… many variables for surpassing 5,000 dollars"

Ethereum (ETH) ended a seven-day consecutive decline and rebounded 4.7%, holding the 4,300-dollar support line, but analysts said there are many variables for breaking above 5,000 dollars.

On the 4th (local time), Cointelegraph reported, "Recently, there has been a net outflow of 300 million dollars from U.S. spot Ethereum exchange-traded funds (ETFs). The ETF outflow represents only 1.3% of total assets under management, but together with this, liquidations of leveraged long positions since August 28 exceeded 340 million dollars, putting pressure on investor sentiment."

However, a surge in short positions did not appear, so the 4,300-dollar support line held, and as call option trading increased, expectations for a rebound were maintained.

However, uncertainty remains about surpassing 5,000 dollars. The outlet analyzed, "Macroeconomic factors such as a global economic slowdown and expectations of interest rate cuts could delay the timing of Ethereum's breakthrough of 5,000 dollars."