Recently, the Ethereum (ETH) market has experienced a noticeable pullback, raising concerns among some investors. Some analysts even predict that ETH could fall to $3000 or $2000, believing that the current market has peaked. However, by closely observing market trends, we can see that the reality may not be as pessimistic.

In fact, before this pullback, ETH had already risen to nearly $4,730, just under 4% away from its all-time high. This phenomenon is worth our contemplation: after four years of market adjustments, most investors who were trapped in the last bull market have already been released, and the trend of ETH seems to be preparing for a breakthrough of the historical high.

From a technical analysis perspective, the current pullback resembles a shakeout behavior before a breakout. This phenomenon is not uncommon in the cryptocurrency market and is often a necessary stage before a significant rise. Based on this judgment, we have reason to believe that the possibility of ETH breaking through the 4900 USD mark and creating a new historical high is quite large.

For investors holding ETH spot, it is crucial to stay calm at this time. Although short-term market fluctuations may cause panic, as long as one can maintain their positions and not be eliminated by the volatile market, there is hope for substantial returns in the future upswing.

Of course, the cryptocurrency market always carries high risks, and investors should conduct thorough research and risk assessment before making any decisions. Regardless of how the market changes, maintaining a rational and cautious attitude is always a wise choice.