The price has been trading sideways around the 118,000 level for two weeks, and in the early morning, it broke through the 119,000 mark, with the high approaching the 120,000 level. Currently, the price is also pressing against the upper band of the Bollinger Bands, with long positions' momentum continuing to diverge.

Ethereum's high point was pulled to the 3900 line, and the bulls have returned, breaking yesterday's weak downward trend; the market has indeed reversed. From a long-term perspective, Ethereum has risen nearly 80% since the beginning of June, primarily due to large purchases by whales, a decline in exchange ETH balances, a record high in staking amounts, and the favor of institutional investors. The market is optimistic about Ethereum's future development, and the bullish outlook remains unchanged.
Currently, the short-term pressure for Bitcoin is at the 120,000 level, with a possibility of breaking through 120,000 again; strong support is at the 115,000 level. Ethereum pressure is at the 4,000 level, with strong support at the 3,500 level.