The recent surge of ETH is not just following BTC's rise but has released several important signals:
📌 First, the "catch-up logic" after BTC reaches new highs, ETH has broken through both technically and in terms of sentiment.
📌 Second, funds are beginning to move down the risk curve, flowing from BTC to ETH, and then penetrating into quality altcoins and L2s, a typical transmission path in a bull market.
Currently, the price of ETH is about to rise above $3,500, with short-term resistance around $3,800. If it breaks through effectively, it is expected to challenge the previous high of $4,000+. In terms of trends, as long as BTC🫓 does not quickly retrace, ETH has the potential to show "independent strength" this time.
More crucially 🎯, this round of ETH's performance has already begun to drive movements in ETH ecosystem projects, indicating that the market is entering a phase of altcoin rotation. ETH's strength is likely the "catalyst" for the altcoin season 🧨!
