Analyst: Technical factors are driving ETH's recent upward movement, but the enthusiasm for capital allocation remains limited.

GateUser-6433627c · 2025-05-18T02:17:40+00:00

The CEX Institutional Research Director stated that the rise of ETH is mainly driven by technical factors, but the market's willingness to allocate is limited; the rise is a catch-up, not a broad market allocation.

GateUser-6433627c

2025-05-18 02:17:40

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On May 17, David Duong, Head of CEX Institutional Research, posted on social media, “The statement I wrote down on Thursday night still applies: Last week, the rise of ETH was mainly driven by technical factors, backed by a large number of misaligned positions, short positions covering, and subsequent re-building a position. This round of pump is actually ETH catching up with peers like BTC and SOL. However, we believe that such price movement does not represent a strong allocation intention for ETH in the broader market, and demand remains limited.”

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