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Analysis: Ethereum encounters resistance at $4700, short-term selling pressure evident

Summary: According to reports, glassnode stated that Ethereum's upward momentum has once again encountered resistance at +1σ realized price (approximately $4700) - the last breakthrough at this level was in March 2024. In previous cycles, this threshold has repeatedly acted as a resistance level, indicating overheating in the area and strong selling pressure.

According to reports, glassnode stated that Ethereum's upward momentum has once again encountered resistance at +1σ realized price (approximately $4700) - the last breakthrough at this level was in March 2024. In previous cycles, this threshold has repeatedly acted as a resistance level, indicating overheating in the area and strong selling pressure.

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