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Recently, Ethereum's performance has been remarkable. From the daily chart, it has shown a nearly continuous pump. Although there have been some minor pullbacks during this period, these pullbacks seem to be just preparing for further rise. Currently, the price of Ethereum is fluctuating around 3900 dollars, just a step away from the high point of this bull run at 4100 dollars.
Usually, before each round of Bitcoin reaching a new high, Ethereum tends to show a pullback trend. This time is no exception. After Bitcoin surged significantly and entered a correction phase, Ethereum quickly began its own recovery journey. The previously set target prices of $3300 and $3600 have been successively broken, and now the target of $3900 has also been achieved. If this wave of market is grasped properly, investors may obtain considerable returns.
It is worth noting that this pump of Ethereum is not an isolated event, but part of the overall strengthening of the cryptocurrency market. However, investors still need to be cautious, as the cryptocurrency market has always been characterized by high fluctuation. Although the current trend looks promising, market conditions can change at any time.
Overall, Ethereum's strong rebound demonstrates the market's confidence in it and reflects the vitality of the entire cryptocurrency ecosystem. With the continuous development of applications such as decentralized finance (DeFi) and non-fungible tokens (NFTs), Ethereum's infrastructure role may become more prominent, which could also provide support for its future price trends.