$ETH Popular Analyst 'Income Sharks' stated: Whether you like it or not, Ethereum's strong performance is injecting confidence into the entire market. Another influencer 'Ash Crypto' even compared its trend to the starting point of last year's Bitcoin bull market.

Although some commentators pointed out that this surge is driven by the overall market, the boost in market sentiment, the technical oversold recovery, coupled with the upcoming mainnet upgrade, undoubtedly provides perfect fuel for ETH's explosion.

Ethereum's market share has also quietly rebounded, rising from a low of 7% at the beginning of the month to over 7.5%, reaching a new high in several months. Technical analyst Thielen further pointed out that this is a perfect comeback triggered by 'short-seller liquidations.'