Real-time Follow-up: ETH riding the trend directly to profit!

July 28 ETH market analysis:

The news around ETH continues to ferment, with the 10th anniversary event and NFT relay 'torch' fully igniting market sentiment. The Ethereum Foundation team's leading attitude is relatively stable, with no obvious selling pressure. Institutions and whale funds are frequently entering the market, showing a bullish sentiment. In the past two weeks, ETH whales have cumulatively entered over 1.1 million ETH, valued at approximately 4.18 billion USD, indicating sustained long-term positioning and accumulation of chips.
From a technical perspective, looking at the hourly chart shows even stronger movement: The candlestick touched the previous high of 3907 directly, the market seems to be exploding like fireworks, breaking through the pressure at 3860 to confirm the reversal, quickly confirming support after a pullback, continuously rising along the 20MA, with MA lines providing continuous support and a strong candlestick structure. Volume on the hourly level is increasing, indicating that the main force is continuously pushing up without signs of weakness at the top.