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The cryptocurrency market has shown a clear upward momentum today. The market reached a peak of 4888, followed by a slight pullback. The key support level is currently around 4790, and it is expected to be difficult to break below this level. Overall, the long positions are dominant.
Investors are advised to consider establishing long positions near the support level of 4750, with an initial target price set at 4950. If this level is broken, there is potential for further upward movement above the 5000 region.
It is worth noting that the upcoming Jackson Hole meeting may impact the market. Additionally, the recent rise of celebrity MEME trends is also noteworthy and may bring extra attention to certain Crypto Assets.
Investors must carefully assess risks and closely monitor market trends when making decisions. The trends of major Crypto Assets such as Bitcoin, Ethereum, and Ripple will also have a significant impact on the overall market direction.