<ul><li>The Ethereum price remains accumulated within a narrow range, hinting at the possibility of excess price compression.</li><li>However, the current market dynamics suggest a diverse price action, making it difficult to predict if the price will reach a new ATH above $5000.</li><li>The historical price pattern of Ethereum indicates the price is close to a complete bearish exhaustion phase, with RSI nearing the lower threshold.</li><li>If the price tests the local support at $1580, a strong rebound is expected, potentially leading to a new ATH above $5000.</li></ul>

Ethereum Stuck in a Bear Trap, New ATH Above $5000 May be on the Horizon

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