According to TechFlame, July 23, cryptocurrency analyst Crypto Dan's latest on-chain analysis report indicates that although Ethereum's recent sharp rise faces the risk of short-term adjustments, compared with the overheating of the futures market in March and November 2024, the current level of popularity is relatively low, and even if a pullback occurs, it may be moderate and last for a short time.

The report emphasizes that judging from the larger cycle, Ethereum has performed relatively slowly in the current upward cycle. It has entered an underrated region and clearly bottomed out, so it is likely that it will continue to move towards higher prices in the second half of 2025.

Analysts also reminded investors that according to recent market performance, the rise in the price of Ethereum will usually cause significant fluctuations in other altcoins, and it is recommended to pay attention to related linkage effects.