$ETH 5,000 USD is becoming a pressure key point

ETH continues to squeeze around the resistance zone near 4.88k, with the pullback strength becoming shallower, which usually indicates that supply is being absorbed. The daily 0.618–0.786 retracement area remains strong, providing a foundation for the next trend extension.

Recently, the open interest has declined from a high and stabilized, reducing the risk of significant liquidations. Once ETH breaks through 5k forcefully, the next target will point to the extension level of 5.4k.

Unless ETH falls below 4.72k, the trend remains healthy.