The price of Ethereum (ETH) has recently broken through the $4600 mark, signaling that a new pump cycle may have begun. Unlike the previous volatile market, this rise is backed by solid support.

Market observations indicate that large-scale on-chain transfers and staking activities are increasing simultaneously, suggesting that major investors are actively positioning themselves. From a technical analysis perspective, various indicators such as the moving average system are showing a bullish arrangement, while key indicators like RSI and MACD are at healthy levels, with no signs of overheating.

More importantly, the Ethereum ecosystem is continuing to expand. The development of Layer 2 scaling solutions and the growing demand for decentralized finance (DeFi) applications are providing substantial support for the ETH price.

For market participants, a breakout at $4,600 can be seen as an important signal of a trend reversal. Currently, the market generally expects the price of ETH to reach $6,000 in September. This target is no longer just a simple prediction, but a process that is gradually being realized.

However, investors still need to be cautious, closely monitor market trends, and manage risks effectively. Although the outlook is optimistic, the volatility of the cryptocurrency market remains high, and investment decisions should be based on individual risk tolerance and comprehensive market analysis.