Opinion: Ethereum Faces Key Resistance at $4500, a Level Last Seen in March 2024 with Clear Cyclical Effects

BlockBeats News, July 30th, according to glassnode data, ETH's +1σ Realized Price Range (currently at $4500) marks a key upper threshold for the current rebound. This level acted as resistance in March 2024 and during the 2020-21 cycle, with a breakout usually signaling a bullish market sentiment and increasing structural instability risk.

Note: The "+1σ Realized Price Range" combines the Realized Price and the concept of standard deviation (σ, sigma) from statistics to assess market participants' average cost basis and price volatility.