In the chess game of the crypto world, Ethereum is leveraging technology to propel the future.
Today, when Bitcoin broke through $124,000 on expectations of a Fed rate cut, Ethereum was playing Tai Chi in the 'comfort zone' of $4700-$4800—Bollinger Bands' middle line is flat, MACD red bars have shrunk to the ankle, and the trading volume of $972 million resembles a cup of plain water. But don't be fooled by this 'lying flat' illusion; undercurrents have already surged.
Technical aspect: Bulls are catching their breath but haven't laid flat.
In the 4-hour K-line, ETH has been like a roller coaster in the past 4 hours: first a slight rise, then a slight drop, finally ending with a bullish candle. RSI is dancing on the 70 line, MA10 is firmly pressing down on MA30, and this setup resembles the 'double bottom' structure of March 2025—when it told the market with a 500% surge: Range fluctuations are the calm before the storm.
News: Three major benefits are on the way.
The first fire: Bullish exchange listing. This 'crypto newcomer' holding 24,300 BTC and 12,600 ETH saw its stock price soar by 200% after ringing the bell on the NYSE today. More intriguingly, the $59 million worth of ETH in its possession could spark market imaginations—if these chips loosen, could they become the fuse for breaking through $4800?
The second fire: Technical upgrades are taking place. The Proto-Danksharding in Q2 this year has reduced Layer 2 fees by 80%, and TPS has surged to 100,000 transactions. Even more intense is the Pectra upgrade, which allows gas fees to be paid in USDC, compressing full node storage requirements from 786GB to 200GB. This is not an upgrade; it is clearly a ladder for retail investors and a red carpet for institutions.
The third fire: Signals for regulatory easing. Although the SEC saw a net outflow of 240 million from ETH ETFs in the last three months, if staking yield distribution is approved, BlackRock and Fidelity's hundreds of billions could directly 'flood in'. The licensing of exchanges in Hong Kong and El Salvador's pilot for ETH as legal tender seem to be bridging traditional funds.
Qingyao's suggestion: Find sweet spots in the fluctuations.
Short-term traders: Lightly test long positions around 4700, take profits near 4800. Spot traders: Wait for a drop below 4670 or a breakthrough above 4800 before joining; it's safer to watch for now.
But don't forget tonight's US CPI data—this 'economic health report' could cause the entire cryptocurrency market to plunge if it exceeds expectations. After all, when the dollar index drops to 146.35 and Trump clamors to include BTC in retirement accounts, any slight movement could trigger a chain reaction.
Qingyao finally speaks some hard truth: ETH now resembles a plane taking off, with $4700-$4800 as the runway, technical upgrades as the engine, and institutional funds as the fuel. When 'modular blockchain' meets 'traditional finance', what it seeks isn't short-term volatility but the throne of the 'digital economy operating system'.
So, will tonight's CPI data become the 'first brick' to break the deadlock? Follow Qingyao for immediate market insights!
