Based on the technical analysis and data from the current ETH/USDT market chart, whether it breaks the 24-hour high (4,715 USDT) needs to consider the following key factors:

1. Short-term trend signal
- Price Position: The current price of 4,698.24 USDT is close to the 24-hour high (4,715) and is in an upward channel over the past month (increase of 9.35%), indicating strong buying momentum.
- Trading volume correlation: 24-hour trading volume is 1.868 billion USDT, liquidity is sufficient, but it is necessary to observe whether there is an increase in volume to confirm the validity of the breakout.
- Technical Indicator Reference:
- BOLL Band: If the price is close to the upper band and the opening is expanding, it may continue to rise.
- MACD/KDJ: No specific values are displayed, but if it is in the overbought area (such as KDJ at 77.15%), be cautious of short-term pullback pressure.

2. Key Resistance and Support
- Immediate resistance: 4,715 USDT is a psychological barrier, and breaking through it may accelerate the upward movement (the next target could be the recent high of 5,352).
- Support level: The average cost price of 3,844 USDT constitutes strong support. As long as the short-term pullback holds above 4,296 (24h low), the trend remains bullish.

3. Market Sentiment and External Factors
- Copy trading/leverage activity: The chart shows active contract and leveraged trading. If there is a significant increase in long positions, it may help push to new highs.
- Mining earnings: Current 5% annual yield or attract capital inflows, indirectly supporting the coin price.

Conclusion: Cautiously optimistic
- Breakthrough probability 60%: If the trading volume continues to expand without sudden negative news, it may test 4,715 and attempt to break through during the day.
- Risk Warning: If multiple attempts to test the high point fail (forming a double top), it may pull back to the 4,500-4,600 range for consolidation.

Short-term traders are advised to pay attention to the volume-price combination near 4,715, and to enter long positions with light holdings after a breakout (set stop loss at 4,650); medium to long-term investors can hold but should avoid heavy positions at high levels. Strategies need to be adjusted in conjunction with real-time news (such as ETH ecosystem upgrades and macro policies).