Analyst: Technical Factors Driving ETH's Recent Rally, Limited Enthusiasm for Fund Allocation

BlockBeats News, May 17th, Coinbase Institutional's Research Director David Duong posted on social media, stating, "The paragraph I wrote on Thursday night still stands: Last week, ETH's rise was mainly driven by technical factors, supported by a large number of misaligned positions, short covering, and subsequent re-leveraging. This round of gains is actually ETH catching up, keeping pace with peers like BTC and SOL."

However, we believe that such price action does not necessarily indicate a strong market-wide willingness to allocate to ETH at a broader level, and the demand still appears limited."