Combining the trends of major funds, volume-price coordination, and macro market sentiment, ETH is expected to challenge the $2600 resistance level in the near future, initiating a new round of upward momentum.
1. Technical Analysis: Major funds entering + Volume breakout, bulls are ready to surge
Key resistance level breakout expected
The chart clearly indicates that ETH's current resistance level is near $2600, and after recent fluctuations in the $1828-1840 range, a volume increase signal has emerged. Historically, ETH often accelerates after breaking through key resistance levels with increased volume. If it successfully holds above $2600, further upside potential will be opened up.
Golden cross formation in the moving average system
The short-term moving averages MA5 (289.84) and MA10 (297.02) are gradually converging. If the price continues to stay above MA10, the short-term moving average is expected to cross upward, forming a 'golden cross', further reinforcing bullish momentum.
2. Market sentiment and fundamentals resonate
Improvement in macro environment
Expectations for the Federal Reserve to pause interest rate hikes are rising, the dollar index is retreating, and the preference for risk assets is recovering. As a high Beta asset, ETH is expected to benefit first from the anticipated liquidity easing.
Frequent bullish news in the Ethereum ecosystem
Recently, after the Ethereum Cancun upgrade, Layer 2 transaction costs have significantly decreased, and on-chain activity has increased. Coupled with renewed expectations for spot ETF approvals, institutional funds may gradually increase their allocation to ETH, forming long-term value support.
Market sentiment shifts to greed
After Bitcoin's halving, market funds are rotating, and there is strong demand for altcoin rebounds. The ETH/BTC exchange rate has stabilized and rebounded, indicating that funds are shifting from BTC to ETH and other mainstream coins, driving price breakouts.
3. Trend prediction and operational strategy
Short-term target: If it holds above the $1828 support, ETH will first test the $1900-2000 range, and after breaking through, it will accelerate towards the $2600 resistance level.
Conclusion: Driven by both technical and fundamental factors, ETH has entered an upward channel. The involvement of major funds and the warming market sentiment provide ample fuel for the breakout. Investors can seize the opportunity to position themselves during pullbacks, waiting for the realization of the $2600 target.
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