The price of Ethereum has long deviated from purely technical logic; what truly drives it is the capital operation model:


Large capital entering the market, unlimited buying pressure, and hype creation; this strategy has already been validated with MicroStrategy.
No need to get tangled up in technical indicators; this is essentially a game of capital. Since it's a market, an ATH is not a ceiling. $ETH at 10,000 USD? It doesn't seem outrageous anymore.
ETH-0.93%
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