[Analysis] "Ethereum, the key to surpassing 5000 dollars is recovering 4580 dollars"
Suehyeon Lee
Summary
- CryptoQuant author CrazyBlock analyzed that Ethereum (ETH)'s recovery of 4580 dollars is key to surpassing 5000 dollars.
- He said that the movement of 1.28 million ETH to long-term accumulation addresses could positively affect market sentiment.
- He reported that Ethereum is currently trading at 4154.60 dollars.
Ethereum (ETH) must first recover 4580 dollars to break through 5000 dollars, according to an analysis.
On the 25th (local time), Cointelegraph reported that CryptoQuant author CrazyBlock analyzed, "For Ethereum to break through 5000 dollars, regaining 4580 dollars is key." He added, "The previous day, 1.28 million ETH (about 300 million dollars) moved to long-term accumulation addresses, and if a rebound succeeds, it could reverse market sentiment and open the way to surpassing 5000 dollars." Meanwhile, according to CoinMarketCap, Ethereum is currently trading at 4154.60 dollars, down 0.74% from the previous day.
Suehyeon Lee
shlee@bloomingbit.ioI'm reporter Suehyeon Lee, your Web3 Moderator.![[Today’s Key Economic & Crypto Calendar] US January Manufacturing PMI, etc.](https://media.bloomingbit.io/static/news/brief_en.webp?w=250)
![[Market] Bitcoin breaks below $76,000 as selloff shows no sign of easing](https://media.bloomingbit.io/PROD/news/0b328b54-f0e6-48fd-aeb0-687b3adede85.webp?w=250)
![[Market] Bitcoin slips below $77,000…Ethereum also breaks below $2,300](https://media.bloomingbit.io/PROD/news/f368fdee-cfea-4682-a5a1-926caa66b807.webp?w=250)
