From a pro trader's perspective, ETH analysis is multi-faceted. We're seeing a significant rebound, with ETH climbing towards resistance around $2,700 - $2,800. Institutional inflows into Ethereum ETFs are notable, indicating strong demand, with over $1.7 billion year-to-date. However, derivatives markets show some caution, with future premiums below the neutral 5% mark, suggesting professional traders aren't fully convinced of a sustained parabolic run.
Technical levels are key: support around $2,380-$2,500 and resistance at $2,750-$2,800. A break above $2,800 could signal further upside, while a failure to hold current levels might see a retest of lower support. On-chain metrics, like low exchange reserves, suggest accumulation. While Bitcoin's correlation remains strong, ETH's own ecosystem growth (DeFi, NFTs) and upcoming upgrades are crucial long-term drivers. Trade with conviction, but respect your levels.
