Recently, $ETH has shown continuous strength, maintaining a high-level fluctuation after breaking through key resistance levels, indicating that the market remains optimistic about Ethereum's Layer 2 ecosystem and the expectations for spot ETFs. As the number of active addresses on the chain and the staking quantity steadily increase, the fundamental support for ETH is also continuously strengthening. From a technical perspective, if it can consistently stay above $3,800, it is expected to further challenge the $4,000 threshold. Short-term operations need to pay attention to changes in trading volume and the direction of main capital, while mid-to-long-term focus can continue on its ecological development and institutional layout. ETH remains a core asset worthy of close attention.