Who is right? The battle of traders for the future of Ether at $4,500 ⚔️

What a show Ether is giving us! It has spiked by 3.5%, leaving me speechless, shamelessly flirting with the $4,500 barrier. The interesting part is that it managed to escape a liquidity trap at $4,200, something not just anyone can achieve in this highly volatile market.

Some analysts like Jelle are already talking about “price discovery” - that wild territory where value can shoot up into unexplored areas. Sounds exciting, right? But I don't buy into the widespread optimism that easily.

Trader Popeye ( and no, I'm not referring to the muscular sailor ) asks us for calm. According to him, we need to see a daily close above $4,500 to confirm that this is a true breakout. If it doesn't happen, we could sadly return to $4,100. Personally, I think he's right to be cautious.

I find it interesting that this rise is driven by spot demand, not by futures. That is, people buying ETH directly, not speculators playing with derivatives. On one hand, this seems healthy, but I wonder if a rally can be sustained without those aggressive traders pouring in money.

Moreover, although a certain major platform is buzzing with altcoin transactions, ETH is not the star of the show. CryptoQuant data reveals persistent selling pressure. It seems that despite the overall enthusiasm, Ether is not the first choice for those looking for quick profits.

The truth is that it all comes down to what happens at the end of the day. If ETH manages to stay above $4,500, we could see $4,800 or even $5,000 soon. But if it falls… well, we'll be back to square one. Will this be the start of something big or just a deceptive trap?

ETH-2.49%
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