Matrixport: Ethereum's current price structure is not only driven by market inertia, but also reflects the resonance of fundamental support and market expectations.

Matrixport released a chart today stating that recently, the price of Ethereum has shown resilience beyond fundamental expectations. Although on-chain activity, as measured by Gas fees, remains low and overall network activity has not significantly rebounded, the price has not retraced. Instead, it has continued its steady upward trend. We believe that this trend is mainly driven by the following structural factors:
First, some institutions have successively included $ETH in their treasury assets, further strengthening its "digital gold" position in the asset allocation system. Second, the issuance of stablecoins on the Ethereum network remains active, continuously injecting liquidity into the on-chain ecosystem. At the same time, the advancement of the U.S. GENIUS Act brings medium- to long-term policy benefits to Ethereum in terms of compliance and institutional participation.
Combined with the seasonal strength of July, the current price structure of Ethereum is not only driven by market inertia, but also reflects the resonance of fundamental support and market expectations. For long position holders, $2,500.00 should still be regarded as a key technical support level. [Odaily Planet Daily]