Since last Friday night, ETH has entered a steady upward trend, firmly standing above $3,880 last night, with a 24-hour increase of 3.75%. This upward movement is not like before, where it surged high and then fell back, but is exceptionally steady - this is not an emotional pulse, but rather a true accumulation of trend momentum.
However, ETH currently faces a 'multiple-choice question': with both bearish and bullish signals appearing, which side will the market believe?
[Bearish Aspect] The surge of ETH exit queues has triggered questioning emotions.
According to [validatorqueue] data, since July 16, the exit queue for the Ethereum PoS network has surged.
Peaked on July 26 - a total of 743,800 ETH queued for exit, with 699,800 still in line;
Sun Yuchen's large unstaking has once again become the eye of the storm.
Yesterday morning, Sun Yuchen unstaked 60,000 ETH through Lido, approximately $225 million;
Although there are no clear signs of a market crash, the market is highly sensitive to it, and speculation about 'whales exiting' is heating up; despite being just on-chain actions, they exert certain pressure on the already fragile emotional landscape.
[Bullish Aspect] SharpLink Gaming laid out $300 million in ETH and staked all of it.
During the weekend, SharpLink Gaming decisively purchased about $300 million in ETH and completed staking; transferred 145 million USDC from Galaxy Digital and withdrew 38,600 ETH from Binance; the on-chain path is clear, the actions are decisive, and there are no signs of short-term outflows, indicating a positive long-term outlook for ETH.
As the tenth anniversary of Ethereum approaches, the ecological narrative is fully launched.
The Ethereum Foundation announced that it will hold a live broadcast for its tenth anniversary celebration on July 30 at 14:30 UTC (Can the consistent market downturn be broken again?); Vitalik himself stated: "ETH has been operational for ten years without downtime, maintenance, or exit," strengthening the narrative of "network stability."
How should one choose a direction?
The current rise of ETH is not a violent surge or a sudden news impact, but a steady increase based on fundamental logic, capital actions, and resonating emotional expectations.
From the market structure, the 3500-3800 range's oscillation chips have not completely exchanged, and the 4000 line will become the core battlefield for testing pressure. This position is both a 'psychological barrier' and an 'emotional threshold'; once broken, ETH will enter a whole new pricing phase.
Everyone knows that 4000 is a resistance level, but if we don't even try, how can we talk about a 'bull market'? The market has never been about 'chasing after soaring prices,' but rather about moving through each turbulence and turning back along the way.
The current position of ETH is not only a price point but also an emotional threshold. Should we be bearish in fear or embrace hope?
