$ETH
• ETH has formed a 'bull flag' pattern, which usually suggests the possibility of further breakthroughs. If ETH can stabilize above $4000, it may climb towards the next target of $4200 or even higher.
• In the short term, the key support level is around $3800-$3850, while the resistance level is expected to be around $4200.
On-chain indicators:
• Active addresses: The number of active addresses on the Ethereum network continues to grow, indicating an increase in user and transaction activity, which has a positive effect on long-term value.
• Whale activity: Although the number of transactions by large investors has slightly decreased recently, the overall level remains high. If they resume large-scale buying, it will further support prices.
3. Macroeconomic market factors:
• ETF inflows continue to drive demand growth, with over $200 million flowing into Ethereum-related ETFs in just the past few days.
• Market expectations for Federal Reserve policies are stable, strengthening the cryptocurrency market.
The cryptocurrency market is highly volatile; it is recommended to manage positions according to one’s own risk tolerance.
