Analysis: ETH's recent rise is mainly driven by technical factors, and the willingness to allocate widely may still be limited

Odaily News David Duong, head of research at Coinbase Institutional, wrote on the X platform that ETH experienced a price increase last week that was mainly driven by technical factors. The analysis pointed out that the increase reflected the short covering and subsequent position adjustment by a large number of traders in the market who were in the wrong positions, which made the price trend of ETH catch up with other major tokens such as BTC and SOL. However, David believes that despite such price performance, it may indicate that the market's willingness to make a broader allocation to ETH is still relatively limited.