$ETHUSDT: Daily trend turning bullish, weekly is next?

Ethereum will confirm a bullish signal on close today, which I was anticipating would be the case for a few days. We also get extra reassurance of resuming the long term bullish trend sooner, rather than later, since the daily signal might help a weekly trend signal trigger during next week...

Quarterly trend remains firmly bullish, and fundamentals are solid:

1. Re-staking might not be priced in: we don't yet know what the potential additional yield long term Ethereum investors might get from it, but wheels are rolling and many protocols are racing to develop liquid staking and other derivative protocols running on top of Eigenlayer already.
   
2. An ETF approval is in the cards, which judging by Bitcoin will likely result in a massive boost to demand for ETH, perhaps the 'ultrasound money' narrative starts to matter again.
   
3. Many scaling solutions are progressing, ETH might be ready to accomodate FAR larger investments and activity on-chain with the emergence of Celestia, EigenDA, to name a few.
   
4. NFT activity has been dwindling lately, but many interesting new applications for them and more advanced web3 games are coming out, wouldn't shock me if this starts to be a significant narrative to drive Ethereum demand once again.
   

Best of luck!

Cheers,

Ivan 'ETH maximalist' Labrie.

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