Is the second bull market of ETH starting? The market has verified my viewpoint on the 28th!
Let’s review the analysis on the 28th: At that time, it was pointed out that after $ETH broke through the resistance of 3500-3600, it was expected to quickly hit 3800. Now the market performance perfectly confirms this! ETH not only rose strongly and in large volume, but also led the entire market to expect a "second bull market". Can this wave of growth continue? Let's disassemble the core drivers and subsequent possibilities.
1. What is the logic of the second bull market?
Historical data review:
1️⃣ 2017 bull market: ETH rose from US$10 to US$400 in the first stage, and soared to US$1,400 in the second stage;
2️⃣ 2021 bull market: The first stage rose to US$400, and the second stage created a historical high of US$4,800.
Current market background: ETH once again showed a similar structure, breaking through the resistance of 3500, and the market technical aspects and capital flow were strong. Will history repeat itself again?
2. Analysis of the current driving force of ETH
1️⃣ Technical support: Ethereum Dencun upgrade expectations continue to heat up, and Layer-2 and DeFi ecosystems continue to expand.
2️⃣ DeFi, NFT and on-chain activities have recently shown a significant recovery. The transaction volume of projects such as Uniswap ($UNI ) and Curve ($CRV ) has increased, directly driving the network activity of ETH.
3️⃣ Market sentiment: The pace of the Fed's interest rate hike has slowed down, and funds have flowed back into the crypto market, making ETH the focus.
3. Trend outlook and strategic recommendations
Short-term goal: $3,800 is still the key pressure level, and it may quickly test the psychological barrier of 4,000 after breaking through.
Long-term potential: If the second bull market is established, $5,000 may become the next main target.
Operation suggestion: Pay attention to the breakthrough opportunity of 3800 in the short term, and you can still arrange in batches in the long term, but be wary of the profit-taking pressure after the rapid rise.
ETH's upward trend is becoming clearer, and the discussion of the "second bull market" has ignited market enthusiasm! What do you think? Will ETH continue to rise, or will it adjust briefly? Leave a message to share your views! 🚀