Glassnode: ETH faces resistance at $4700, market may be overheating
ChainCatcher message, Glassnode data shows that the ETH price is once again stagnating at the $4,700 (+1σ effective realized price) level, a resistance level that was last broken in March 2024. This price level has repeatedly acted as a resistance in historical cycles, indicating that the current market may be overheated and facing significant selling pressure.
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