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BTC 
ETH A week ago, Ethereum (ETH) broke through its $1,842 - 1,868 resistance line, transforming it into a new support line. Weekly technical analysis based on multiple months shows that prices are expected to rise to $2163, with key resistance levels at $1900 and $2000.
In the past 24 hours, Ethereum briefly fell below this support line and then rebounded to trading above it. As of press time, ETH prices were $1904, up 2.35% during the period. If buyers outnumber sellers and they can hold on to the rebound, then we will consider this backtest completed. This will also lay a solid foundation for subsequent upward trends. If the weekly close can stand above the support line, it will further verify the market strength and the potential for the next round of macro gains.
Future Trend
If seller pressure continues, backtesting may fail, as prices are suppressed by resistance or fall below the support line. If the price falls to the US$1,710 - 1,750 range, the above bullish trend will be completely invalid. Recently, Bitmine Chairman Tom Lee put forward a long-term bullish view that once Bitcoin reaches US$250,000, the Ethereum price may hit US$12,000. His theory also points to similarities between Ethereum's price movements and Amazon or Nvidia stocks 'performance before gaining market attention.
Factors supporting these forecasts include: the recent rise in Ethereum network pledge rate to a record high of 35%, causing supply to tighten. In addition, the inflow of funds from the Ethereum Spot ETF turned positive, indicating increased institutional demand for the token. The blockchain also continues to dominate the tokenized real-world asset (RWA) market, currently hosting more than $15 billion in distributed assets.
