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Ethereum continues to trade under visible short-term pressure, with technical indicators, derivatives data, and spot flows pointing to a cautious market stance. On the 4-hour chart, ETH/USD remains structurally weak after losing key Fibonacci support levels. Besides chart signals, recent disclosures from Ethereum’s leadership have added another layer to market focus.

Ethereum price today trades near $2,899.51 after bouncing from a multi-month ascending trendline that has supported the recovery since April. The rebound comes as network activity reaches unprecedented levels, with daily transactions hitting an all-time high that contradicts the bearish price action.

Crypto asset manager 21Shares has submitted an S-1 registration statement to the U.S. Securities and Exchange Commission (SEC). The filing seeks approval to launch the 21Shares 2x Long HYPE ETF. This leveraged fund is designed to deliver twice the daily returns of Hyperliquid (HYPE) before fees and expenses.

The altcoin market is showing strong signs of a potential breakout, and according to new analysis, the entire trend is being driven by Ethereum’s position on its long-term charts.

As Bitcoin hovers around $117,000 after recently hitting a new all-time high, a telling shift is appearing in on-chain activity. According to highlighted by Bitcoin researcher Axel Adler Jr., the current uptick remains far below the levels seen during past market tops, suggesting the macro cycle may still be in its early innings.

As Bitcoin consolidates around the $108,400 level, on-chain data reveals a market in transition, where record-high retail optimism is clashing with the “atypical” and deeply convicted behavior of long-term holders.

A powerful convergence of a major technical breakout and relentless institutional demand is building a strong bullish case for Ethereum (ETH). According to an analysis by crypto analyst IncomeSharks, Ethereum has decisively broken out of a long-term downtrend channel, a move that is being supported by a powerful, 15-day winning streak of inflows into spot ETH ETFs.

Altcoin Daily’s question “Anyone here still believe in Cardano?” has sparked a detailed defense from prominent community member Cardano Whale. He argued that ADA’s sustained top 10 position since 2017 shows genuine market resilience rarely matched by newer projects.

Bitcoin whale James Wynn caught the attention of crypto markets today, May 21, by initiating one of the largest leveraged long positions ever seen on a decentralized exchange.