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Analysis: Ethereum Faces Key Resistance at $4500, Indicator Shows Significant Effects in March 2024 and Previous Cycle
Summary: According to glassnode data, ETH's +1σ realized price range (currently at $4500) marks a crucial upside threshold for the current rebound. This level has acted as resistance in March 2024 and during the 2020-21 cycle, with a breakthrough typically signaling a bullish market and increased structural instability risks. The +1σ realized price range combines Realized ...
According to glassnode data, ETH's +1σ realized price range (currently at $4500) marks a crucial upside threshold for the current rebound. This level has acted as resistance in March 2024 and during the 2020-21 cycle, with a breakthrough typically signaling a bullish market and increased structural instability risks.
The +1σ realized price range combines Realized Price and the concept of standard deviation (σ, sigma) in statistics to assess market participants' average cost basis and price volatility.
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Link: Analysis: Ethereum Faces Key Resistance at $4500, Indicator Shows Significant Effects in March 2024 and Previous Cycle [Copy]
