$ETH Factors Driving ETH Rebound
1. Anticipation of Ethereum Spot ETF
Speculation regarding the approval of a spot Ethereum ETF by the SEC has triggered a surge in buying interest, similar to the effect seen when the Bitcoin ETF was announced.
2. Decrease in Gas Fees
Transaction fees on the Ethereum network have drastically decreased, making it attractive again for use in DeFi and NFTs.
3. Whale Buying Action
Several large wallets have been observed accumulating ETH in large quantities through Binance, indicating long-term confidence.
4. Proto-Danksharding Upgrade (EIP-4844)
This upgrade enhances network efficiency, serving as a positive catalyst for ETH fundamentals moving forward.
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Brief Technical Analysis
Strong support: $1,750
Major resistance: $1,850
RSI Indicator: Starting to enter bullish territory
Short-term opportunity: If it successfully breaks through $1,850, ETH has the potential to reach $2,000 in the near future.
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Investor Strategy
Buy the dip: If the price corrects to the $1,770–$1,780 area, it could be an accumulation opportunity.
Monitor breakout volume: Increases with high volume can confirm an upward trend.
Don't forget Bitcoin: ETH's movement is still heavily influenced by BTC market direction.
