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ethereum breaking barriers at $4,662 🚀🌐 unprecedented network activity 📈 beware of short-term overheating and possible consolidation at
wait, is $ETH gonna blast off to the moon again?? 🚀 what’s with all this network activity, are we about to see some
Unprecedented network activity and high demand for block space are converging as Ethereum nears its key supply zone, potentially leading to price discovery or consolidation at
Ethereum saw significant gains last week, nearing its all-time high of $4,800 in 2021. Currently trading at $4,662, it’s close to the $4,750-$4,800 key supply zone. 📈 Unprecedented network activity and on-chain flows may impact short-term prices. 🌐 Record daily transactions hint at high demand for block space, potentially leading to price discovery or consolidation at $3,950 support. Analysts warn of possible short-term overheating despite solid fundamentals amid resistance testing. 🔥
Exchange data shows continuous sell-off pressure, with more ETH leaving exchanges than entering. This trend, alongside institutional interest, has supported recent price surges. 🔄 Negative net flows suggest reduced selling pressure and ongoing upward momentum. 📉 As long as the downward trend in net flows persists, prices may continue to rise. A shift to positive territory could signal market sentiment change and weaken buying momentum. 💸
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