Analysis: The recent rise of ETH is mainly driven by technical factors, and the willingness for widespread allocation may still be limited

ChainCatcher news, Coinbase Institutional Research Director David Duong posted on the X platform that ETH experienced a significant price increase last week, primarily driven by technical factors. The analysis pointed out that this increase reflected a large number of traders in incorrect positions conducting short covering and subsequent position adjustments, causing ETH's price movement to catch up with other major tokens like BTC and SOL. However, David believes that despite this price performance, it may indicate that the market's willingness to allocate more broadly to ETH remains relatively limited.