Recently, from the perspective of technical indicators, trading volume, and news, Ethereum shows strong upward expectations, exhibiting an independent market trend. Currently, Ethereum is close to the last concentrated chip area, and if it successfully breaks through, it is expected to start a price trend beginning with 3.
Yesterday, a large amount of Ethereum also flowed out from exchanges, with institutions continuing to buy.
Yesterday, Ethereum's rise drove some related altcoins to follow suit, with the price once surging to 2834 points, slightly surpassing the previous high of 2788 points.
In the spot market, the inflow of funds into the Ethereum ETF has reached a new high for the past month, with a total market value of $10.841 billion. At the same time, retail traders' enthusiasm for trading has significantly increased with the price rise.
From a technical standpoint, after the severe market washout from February to April this year, if Ethereum can maintain an independent market trend, the price expectation is likely to rise further from $3000 to $3300.
Recently, multiple favorable factors have provided support for the Ethereum ecosystem. For example, the improvement of the stablecoin regulatory framework and the promotion of real-world assets (RWA) have positively impacted the Ethereum ecosystem. Additionally, the US SEC's gradually easing regulatory attitude towards Ethereum staking has opened up more possibilities for its long-term value growth.
Looking ahead, listed companies like Sbet may further increase their holdings of Ethereum. From a macro perspective, the Federal Reserve's interest rate cut cycle is still ongoing, providing a loose liquidity environment for the market.
In the past two days, altcoins related to Ethereum have been active. If Ethereum can continue to lead the rise, it will inject strong confidence into the entire altcoin market, boosting investor confidence and attracting more funds to enter. However, the current market funding is limited, and the overall atmosphere has not fully heated up, making it difficult to support all coins to rise simultaneously. A more likely scenario is that different types of altcoins will rise in rotation. If Ethereum can take the lead, driving this rotation pattern, it will inject more vitality into the altcoin market.
In summary, if Ethereum can maintain a steady and sustained rise in this round, more small coins are expected to follow suit and start a rising trend.
Regarding altcoins, the progress of the SOL ETF is receiving much attention. Last night, the SEC requested the issuer planning to launch the SOL spot ETF to submit a revised S-1 form within the next week. Industry insiders believe this ETF is likely to be approved within 3 to 5 weeks. Additionally, there are reports that the SEC may accept proposals that include a staking mechanism, which is not only beneficial for SOL but also indirectly favorable for Ethereum.
With the submission of the SOL ETF, it also means that the probability of SOL passing has become very, very high; not only SOL, but several ETFs have been submitted, making the second half of the year exceptionally lively. Will this bring new funds to join?
The recent upward trend is closely related to the progress of Sino-US trade negotiations, an event that is currently receiving high attention from global financial markets. If the negotiation results exceed market expectations, it will constitute a significant benefit to the market and may further push prices up. News from the US has been relatively positive, for example, Trump stated, 'The news received is all good,' conveying an optimistic signal that negotiations may proceed smoothly. In contrast, the Chinese side has been more cautious, only stating that communication between both parties is smooth, without disclosing more specific details.
If a formal agreement is reached in the coming days and the results exceed market expectations, the market may welcome a new round of rapid increases. From the recent early movements of stock prices, it cannot be ruled out that some funds may have already received the news in advance, taking the lead in positioning.
However, regardless of the final outcome of the negotiations, the current price is in a sensitive area. If one blindly chases higher prices at this time, once the market reacts less than expected or experiences a short-term correction, the adjustment could be significant. For swing trading, if the rhythm is misjudged, the risk of loss may significantly increase.
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