$ETH Ethereum upgrade is imminent, will the whales boost ETH to break through?
Ethereum (ETH) has recently shown strong upward momentum, with both technical and fundamental factors driving market sentiment. The upgrade plan for the execution layer proposed by co-founder Vitalik Buterin, the large inflow of funds, and technical analysis support have collectively provided upward momentum for the ETH price.
**Vitalik proposes to upgrade the execution layer architecture**
Buterin proposed to use the RISC-V instruction set to optimize the Ethereum Virtual Machine (EVM), aiming to improve efficiency and scalability. RISC-V, as an open-source architecture, can simplify future upgrade processes, reduce development complexity, and help Ethereum maintain technological leadership in the highly competitive Layer 1 arena.
**Large funds continue to flow in**
On-chain data shows that recently, “whale” addresses have frequently increased their ETH holdings. For example, one address withdrew 3844 ETH (approximately 6.5 million USD) from an exchange, while another address bought 6528 ETH (approximately 10.69 million USD) in a single transaction. Similar large purchases appeared before the bull market of 2020-2021, which may indicate increased institutional confidence.
**Technical indicators release bullish signals**
Analysts point out that ETH has broken through a long-term downward trend line and completed a retest confirmation, entering a typical upward phase. After a similar pattern in 2020, the ETH price soared from 300 USD to 4800 USD. The derivatives market also reflects optimistic sentiment, with open interest rising to 19.19 billion USD, and long positions accounting for 55.83%.
The current market structure is similar to historical cycles; if the trend continues, ETH may welcome a new round of increases. However, investors should still pay attention to the progress of the upgrade and changes in the macro environment.
Ethereum (ETH) has recently shown strong upward momentum, with both technical and fundamental factors driving market sentiment. The upgrade plan for the execution layer proposed by co-founder Vitalik Buterin, the large inflow of funds, and technical analysis support have collectively provided upward momentum for the ETH price.
**Vitalik proposes to upgrade the execution layer architecture**
Buterin proposed to use the RISC-V instruction set to optimize the Ethereum Virtual Machine (EVM), aiming to improve efficiency and scalability. RISC-V, as an open-source architecture, can simplify future upgrade processes, reduce development complexity, and help Ethereum maintain technological leadership in the highly competitive Layer 1 arena.
**Large funds continue to flow in**
On-chain data shows that recently, “whale” addresses have frequently increased their ETH holdings. For example, one address withdrew 3844 ETH (approximately 6.5 million USD) from an exchange, while another address bought 6528 ETH (approximately 10.69 million USD) in a single transaction. Similar large purchases appeared before the bull market of 2020-2021, which may indicate increased institutional confidence.
**Technical indicators release bullish signals**
Analysts point out that ETH has broken through a long-term downward trend line and completed a retest confirmation, entering a typical upward phase. After a similar pattern in 2020, the ETH price soared from 300 USD to 4800 USD. The derivatives market also reflects optimistic sentiment, with open interest rising to 19.19 billion USD, and long positions accounting for 55.83%.
The current market structure is similar to historical cycles; if the trend continues, ETH may welcome a new round of increases. However, investors should still pay attention to the progress of the upgrade and changes in the macro environment.