#ETH Breaks $4700#

Ethereum has reached a critical level today, surpassing $4,659.
In the last 24 hours, ETH has recorded an increase of over 8% with a strong buying wave, continuing into August with bullish momentum.
The highest level during the day was $4,674, and the lowest was $4,265.

Support & Resistance Levels
Resistances:
• $4,764 – The first level likely to be tested in the short term
• $4,910 – The next target if the rise gains momentum
• $5,196 – Long-term psychological threshold, if broken, potential for new ATH

Supports:
• $4,433 – Daily trend support
• $4,068 – Medium-term protection level
• $3,967 – Falling below this level may increase the risk of a decline

Technical View
• The RSI is currently at levels of 79, indicating that we are in the overbought zone.
• MACD is in the positive zone and generating a buy signal.
• The price is moving within an ascending triangle pattern; this structure typically acts as a continuation pattern.

Short-Term Scenarios
• Positive: If sustainability is achieved above $4,600, the range of $4,800 – $5,000 can be targeted in a short time.
• Negative: If it falls below $4,433, a correction to the $4,200 – $4,300 range may occur.