On August 11, Ethereum has risen above $4300. Analyzing from the technical, market sentiment, and fundamental perspectives, the price of Ethereum (ETH) is expected to continue pumping in the next three days, but attention must also be paid to the pullback risk, as detailed below:

Technical support for rise: From the 4-hour chart, ETH price has maintained major moving averages such as EMA20 (3749 USD), EMA50 (3686 USD), and EMA100 (3623 USD), forming a bullish momentum. The Bollinger Bands have widened, and the price is at the upper band, indicating that the bullish momentum continues.
Market sentiment is positive: Options trading volume has surged over 131%, indicating that the market holds a positive bullish position. Although the RSI indicator on the 30-minute chart has pulled back from the overbought area to around 60, it still has the potential to rise further. The MACD indicator, while the histogram has slightly contracted, remains in the positive zone, and the bullish momentum is still present.
Fundamentals are bullish: Institutional demand continues to support ETH prices, with recent months seeing sustained net inflows into spot ETH ETFs, reducing the circulating supply on exchanges, while staking activities are growing steadily, further locking in ETH liquidity. Additionally, the upcoming Ethereum "Dencun" network upgrade is expected to significantly reduce Layer-2 transaction fees, attracting more users and providing support for price rises.
However, in July, ETH rose by as much as 50%, and there is a risk of a pullback in the short term. Overbought technical signals, profit-taking by traders, and external shocks such as changes in macroeconomic policies or geopolitical situations could trigger a rapid price correction. If the price falls below the short-term support level of $3800, it may pull back to around $3749 or even $3600. #ETH突破4300#