The current market environment shows that Ethereum (ETH) is in a bullish phase. Analysis shows that recent price action indicates a stop-loss reversal signal, indicating that a new upward cycle may be in the works.

Specifically, trading on June 11 showed that a large amount of volume supported the price and formed a clear long shadow, which indicates that there is a strong support force at the low level. Although the two subsequent pullbacks slightly broke through the previous low, the decline was limited, and the short-selling force weakened, showing signs of a retreat of shorts in the market.

In the past fluctuations, the first wave of the rise had a pullback of almost 100%, and the decline was close to the same proportion. However, the two morning star patterns that appeared on the key support level indicate that the bulls are relatively strong.

Although the price is currently under pressure from the dense trading area formed in the rising phase, the overall market background still supports the rise due to the current bull market. Therefore, the probability of Ethereum's future rise is relatively high, which may drive other high-quality and valuable cryptocurrencies into a new round of upward trend.

In summary, market analysis shows that Ethereum is expected to break through and continue to rise, which provides investors with the possibility of finding profit opportunities in the bull market.