Ether breaks out against BTC, but new highs depend on $4.7K becoming support

Ether rallied nearly 5% on Monday, but a true short-term trend reversal hinges on $4,700 flipping back to support.

Key takeaways:

Ether rallied 5% after a “Monday trap,” but leverage risk is rising with Binance’s ELR at record highs.

$1.65 billion in stablecoin inflows and 208,000 ETH withdrawals show strong accumulation.

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