According to glassnode, Ethereum's +1σ Active Realized Price band, currently at $4,500, represents a crucial resistance level for the ongoing rally. This threshold served as a resistance point in March 2024 and during the 2020–21 bull cycle. Historically, breakouts above this level have been associated with heightened market euphoria and an increased risk of structural instability, indicating that traders should closely monitor ETH price action as it approaches or surpasses this point (source: glassnode).