Viewpoint: ETH faces key resistance at $4500, which was evident in March 2024 and during the previous cycle

ChainCatcher message, according to Glassnode data, the +1σ effective realized price range of ETH (currently at $4500) marks a key upward threshold for the current rebound. This level acted as resistance during March 2024 and the 2020-21 cycle, and breaking through this level typically indicates a thriving market, with an increased risk of structural instability. The "+1σ effective realized price range" combines the concept of Realized Price and the standard deviation (σ, sigma) from statistics to assess the average cost basis of market participants and the volatility of market prices.