Currently, Ethereum has reached around 4650, a near-year high, and it looks very energetic, likely to break through the historical high and push towards the psychological barrier of 5000. However, based on historical experience, both the historical high and the psychological barrier of 5000 are not likely to be crossed smoothly. The reason is simple: it's not that there isn't the strength to break through, but rather that the topics and fundamentals available for speculation in the crypto space are limited. Major players will also take advantage of these critical points to create some movements. If it were that easy, wouldn't it waste the precious resources accumulated over the years? Therefore, as we get closer to the previous high, we need to be more cautious, especially when it feels like we're just a step away from crossing it. Key level game logic: 1. The historical high itself is a natural psychological resistance, and many short-term funds will take profits in advance. 2. The round number of 5000 is a stronger psychological expectation level, often accompanied by increased volatility and false breakouts during the assault. 3. If the main force pulls through in one go, it loses the opportunity to create volatility and turnover, so it is more likely to follow the script of "false breakout - pullback - true breakout." Therefore, in this range, we need to pay special attention to trading volume. Historically, when approaching key levels, it is often accompanied by a rapid increase in trading volume, but once the volume does not cooperate, it is easy to fall into the "high pullback" trap.