【VKGAME Virtual Currency】Ethereum Strongly Rebounds, Is the Bull Market Cycle Coming Again?

Ethereum (ETH) has once again become the spotlight of the crypto market. Despite significant volatility in overall trends since the beginning of the year, the strong rebound in May has led the market to reassess Ethereum's potential. While Bitcoin's ETF saw substantial capital outflows, Ethereum demonstrated strong recovery capabilities, sparking widespread discussions about its 'bull market cycle.' From price structure, technical patterns, to market sentiment and institutional movements, Ethereum seems to be at a critical juncture. Will this market trend serve as the starting point for a new bull market, similar to the cycle from 2016 to 2017?

Looking back at May's performance, Ethereum briefly rose to around $2800, recording a 26.8% monthly gain, becoming one of the strongest assets among mainstream cryptocurrencies. Meanwhile, although Bitcoin remains in a consolidation phase around $105,000, its ETF has seen outflows for three consecutive days, with a single-day maximum outflow reaching $268 million, indicating that some institutional funds are shifting from Bitcoin to other assets, with Ethereum undoubtedly being one of the beneficiaries. Significant redemptions have occurred in BlackRock's IBIT, ARK's ARKB, Fidelity's FBTC, and Grayscale's GBTC, but Ethereum-related ETFs have shown relatively active net inflows, creating a notable contrast in capital flows. Against this backdrop, the phase of ETH's explosive growth is not only due to improved fundamental expectations but also has the practical support of capital rotation. It is worth mentioning that under the global trend of accelerating integration between blockchain and esports applications, VKGAME Group, established in 2016, has also expanded its industry reach during this period. Through a series of event collaborations and user growth, VKGAME has indirectly boosted the attention on related digital assets.

After breaking through $2500, Ethereum's price entered a fluctuating upward channel. Although it faced resistance near $2800, it still maintains a relatively strong structure. The RSI indicator is around 62, showing slight fatigue, but has not formed a clear top structure. The 4-hour chart shows that the price has repeatedly tested the support area within the rising channel; despite a weakening rebound momentum, the channel has not broken down and still possesses the potential for further upward movement. The market is currently in a typical directional choice phase, with trading volume continuing to expand, which is a prerequisite for establishing a bullish structure.