$ETH ETH has the potential for continuous upward movement, based on its recent strong market performance, institutional optimism and capital inflow, as well as various technical upgrades, specifically:

- Strong market performance: The overall market is currently improving, with Bitcoin stabilizing at a high level driving market sentiment, which has resulted in an increase in ETH prices. Its daily chart has formed a 'bullish engulfing' pattern, favoring bulls, while the 4-hour RSI is not overbought, MACD momentum is strengthening, and both volume and price are rising, indicating a short-term upward channel.

- Institutional capital inflow: Recently, numerous institutions have been buying ETH, such as the US-listed company Sharplink Gaming, which raised $200 million to buy ETH entirely, and BitMine Immersion has accumulated 833,000 ETH. On-chain data shows that in the past week, mysterious institutions have swept $667 million worth of ETH through OTC, a scale comparable to the peak of the 2021 bull market.

- Positive policy expectations: The SEC has been reported to speed up the review of the ETH ETF, with market expectations for approval as early as September. Bloomberg predicts that within 12 months after the ETF is approved, at least $15 billion will flow into ETH, providing strong support for its price.

- Technical upgrades assist: The sharding expansion and other technical upgrades of Ethereum 2.0 will bring a leap in efficiency, and the Proto-danksharding upgrade has entered the final testing phase, expected to increase block processing speed to 3000 transactions per second, enhancing its competitiveness as a smart contract platform.

However, the continuous rise of ETH also faces some risks, such as the short-term RSI indicator approaching the overbought zone. If it cannot break through key resistance levels, a pullback may occur. Meanwhile, stricter regulatory policies, significant drops in Bitcoin, and competition from new public chains may also affect its price trend. #机构疯抢以太坊