The recent rise of $ETH is driven by the market's expectations for the Ethereum ETF, and most of the altcoins that followed its rise are closely related to Ethereum. The $AR coin, which performed strongly in the early stage, has recently experienced a pullback, and the increase of the $NEAR coin is relatively small. The market presents a fragmented trend of fighting for each other. Old investors focus on Ethereum and its tokens, looking forward to the prosperity of altcoins; while new investors are keen to chase popular meme coins; at the same time, those who invest in VC coins may be experiencing the test of market adjustments.
ETH's recent surge has undoubtedly attracted a lot of attention, but this rapid rise also has the risk of overdrawing future gains. In the early hours of this morning, Ethereum quickly rose from around $3,150 to $3,700, and there was almost no obvious resistance in this range.
However, it is necessary to be vigilant that if the market pulls back, the $3,300 to $3,200 range may lack sufficient support. Therefore, be cautious when chasing highs and avoid blindly following the trend. If the market does pull back to the $3,300 to $3,200 range, this may be a worthy entry point for investors who are bullish on Ethereum in the long term.
