Ethereum (ETH) has shown strong performance recently, with its price breaking through the $4600 mark, attracting widespread market attention. From a technical perspective, ETH has formed a clear rising channel, with trading volume gradually increasing and short-term moving averages showing an accelerated upward trend, all of which are positive signals.

On-chain data also confirms this positive trend. The number of active addresses and transactions continues to grow, indicating a rise in network activity. Especially the development of the DeFi and Layer 2 sectors has driven an increase in demand for the entire Ethereum ecosystem. This not only reflects the practicality of the Ethereum network but also suggests potential value growth in the future.

It is worth noting that institutional investors' interest in ETH appears to be increasing. Data shows that the net holding ratio of large institutional addresses has risen by 5% over the past week. This inflow of institutional funds, combined with the overall positive market sentiment, has jointly driven the rise in ETH prices.

Analysts believe that if the current trend continues, reaching the target of 6000 USD for ETH by mid-September is not impossible. However, investors should be aware that although the current pullback is limited, the cryptocurrency market has always been highly volatile, with risks and opportunities coexisting.

For investors considering entry, this may be a critical moment. Missing this rise could mean losing potential high return opportunities. However, at the same time, be wary of sudden changes that may occur in the market and be prepared for risk management.

Overall, the current trend of Ethereum is encouraging, but investors should remain cautious, closely monitor market movements, rationally view short-term fluctuations, and assess the potential and risks of Ethereum from a long-term perspective.