Pectra Upgrade Revolutionizes Ethereum ETF, Focus on Breakthrough of Descending Triangle Upper Trendline
According to the latest analysis from on-chain research institutions, Pectra's technological upgrade has significantly optimized the operational model of the Ethereum ETF, successfully achieving efficient conversion of staking returns while maintaining high liquidity. Market data shows that the Ethereum futures market has experienced significant volatility recently, resulting in a cumulative liquidation scale of 52.81 million USD, with long position liquidation amounting to 20.40 million USD and short position liquidation scaling up to 32.41 million USD.
From a technical perspective, the price of Ethereum is at a critical juncture: if it fails to maintain the 2500 USD level, it is expected to fall back into the narrow range of 2300-2500 USD, with the lower boundary of the symmetrical triangle formed by the 200-period SMA serving as an important support line. In an upward trend, the price is expected to continue to challenge the upper boundary pressure of the symmetrical triangle. Once an effective breakthrough occurs, the 2850 USD level will become the next key resistance target.
It is worth noting that the current market sentiment indicators show an optimistic trend: the Relative Strength Index (RSI) remains stable above the neutral range, and the Stochastic Oscillator (Stoch) is also operating in the overbought region, indicating that bullish momentum still holds a dominant advantage. Investors should pay close attention to the price's breakthrough of the triangle's upper trendline to seize potential trending opportunities.
Disclaimer: The content of this article is for informational sharing only and does not constitute investment advice. The cryptocurrency market is highly risky and volatile; investment decisions should be made cautiously.