Why ETH Rejected $4,955 & May make a new High at $5,500

This is just for educational purposes and not a signal.

This Trend-based extension analysis is just to demonstrate why price rejected at $4,955.

You can also see how many time price resisted the 0.382 and the trend line within the Fib tool before the final breakout post-ATH.

You can also see the reaction at 0.618 with the previous day's very aggressive Bullish candle.

This explains how important 0.382, 0.618 & 0.5 fib levels are.

I hope this analysis helps