ETH has just begun to break through the weekly trend line here, approaching historical highs. We continue to expect ETH's independent market, but there is significant short-term pressure.

1. The number of staked ETH withdrawn has reached a new high of 817,000, creating selling pressure that needs to be digested. The profit-taking in the short term is also substantial.

2. The open interest of ETH Binance USD contracts is 10 billion, close to Bitcoin's 10.8 billion. The open interest is large, and profit-taking needs to be cleaned up, with an expected adjustment to 8-8.5 billion.

Pay attention to the position of the previous gap during the pullback: $ETH