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"The 'Hurdles' of ETH: 4300 is the preliminary round, only 4400 counts as warm-up"
The recent trend of ETH is like the champion of the hurdles in the on-chain Olympics — easily clearing 4300 dollars and then turning around to jump over 4400 as well. More importantly, it looks calm as if saying: "This is just the first few hurdles of the track."
The driving force behind its acceleration is very clear: institutional buying has strengthened, on-chain active addresses are recovering, transaction fee income is rising, and combined with the market's general expectation that the Federal Reserve may cut interest rates in September, this has provided dual support for ETH in terms of liquidity and sentiment.
But I want to remind you of one thing: the price movement of ETH is different from that of BTC; it is more prone to the fluctuation rhythm of "breakthrough - acceleration - short-term pullback - then rise again." In other words, the current breakthrough at 4400 may initially trigger a wave of FOMO, but true sustained growth will depend on whether it can stabilize above 4400.
Short-term traders prefer this rhythm because of the high volatility and numerous opportunities; long-term holders regard it as a signal—breaking through 4400 means a more solid bull market structure, and the next stop could be 4500+.
From a graphical perspective, if 4400 successfully stabilizes, the next target is the range of 4500-4600; however, if it loses 4350, it may return to a consolidation around 4200-4250.
In conclusion, in one sentence: The hurdles for ETH have just begun, and there are higher ones waiting for it to leap over.