Ethereum (ETH) is drawing market attention as it approaches breaking through the key resistance level of $2,800 (approximately 38.92 million won). The background for this optimistic outlook includes recent changes in the SEC's stance, increased institutional investment, and continuous capital inflows. Although the market has been stagnant for a while, analysts believe a strong upward signal is not far off.
Currently, Ethereum is trading around $2,775 (approximately 38.55 million won), rising 9.1% in the past 24 hours and 6.2% over the past week. This exceeds the average cryptocurrency market growth rate of 3.3%. Particularly, the market's optimism stems from SEC Chair Paul Atkins' clear statement that staking and wallet software development are "outside the scope of securities law". This has raised expectations of regulatory easing for the DeFi ecosystem and acted as a positive signal in the market.
However, in the short term, it remains trapped in a price box. Ethereum has been showing volatility within a wide range, moving between recent highs and lows. Analyst Daan Crypto Trades noted, "The price has already tested the upper limit several times" and suggests waiting until a definitive breakthrough occurs.
Technical analyst Michaël van de Poppe predicted that breaking $2,800 could lead to a rise up to $3,500 (approximately 48.65 million won), while emphasizing the importance of maintaining the key support level of $2,575 (approximately 35.78 million won). In contrast, analyst Čyrus Ologun warned that the upward trend reversal is premature, suggesting a potential retreat to $2,200 (approximately 30.58 million won) if $2,800 is not definitively crossed. He particularly pointed out that the current rise is merely a 'bearish flag' pattern, with the 30-day buy-sell ratio steadily decreasing, supporting increased selling pressure.
Conversely, fundamentals are clearly improving. Angel investor Momin Saqib stated, "It has recorded net inflows for 7 consecutive weeks, with $815 million (approximately 1.134 trillion won) flowing into ETH ETF in the past 20 days." Simultaneously, the fact that 34.6 million tokens, corresponding to 28% of Ethereum's total supply, are currently being staked, highlights the potential for price appreciation.
With major institutions like BlackRock and Fidelity increasing their exposure to Ethereum, network activity is also significantly increasing. This week alone, over 16 million active addresses were recorded, visibly expanding the user base. Trader Master of Crypto analyzed this as "growth based on usability, not just price increase".
Ultimately, the market's direction depends on breaking the $2,800 level. If surpassed, there are increasing predictions of a strong upward rally from $3,000 (approximately 41.70 million won) to $3,500. However, uncertainty has not been completely resolved, and investors continue to cautiously wait and see.
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