$ETH is currently only experiencing a portion of historical supply (from the high supply area in 2021), but even on the 4-hour level, there has been no significant structural damage, and the highs and lows are still slowly rising...

Therefore, you may not be optimistic about BTC, but there is no reason to be bearish on ETH.

Looking at the ASR channel, the price is oscillating upwards within the orange average resistance band, which has consistently shown strong performance.

This indicates that current market demand is gradually absorbing the supply near historical highs. $ETH