Recently, the cryptocurrency market has shown a positive trend, with Ethereum (ETH) particularly standing out. The price of ETH has approached $4794, just one step away from its historical peak of $4877, attracting widespread attention in the market.

Multiple factors drive the strong rise of ETH:

1. Significant inflow of institutional funds: The ETH exchange-traded fund (ETF) attracted a net inflow of $2.2 billion in just three days, far exceeding the $330 million of the Bitcoin ETF. Notable institutions such as Blackstone and Fidelity are actively increasing their holdings, providing strong momentum for ETH.

2. Technical upgrade to optimize the ecosystem: This year, the 'Pectra' upgrade launched by ETH enhanced network performance and expanded staking options. The previous 'Dencun' upgrade significantly reduced the costs of Layer 2 solutions, stimulating the activity of on-chain projects.

3. The regulatory environment is becoming more friendly: The passage of the U.S. 'Genius Act' bill clarifies the compliance path for stablecoins and mainstream encryption currencies, with ETH being one of the main beneficiaries. Some companies even regard ETH as 'digital gold' for long-term holding, such as ETHZilla holding $350 million worth of ETH.

From a technical analysis perspective, $4800 is a key resistance level for ETH. If this level is broken, it could quickly rise to the $5000-$6000 range. Several financial institutions are optimistic about ETH's prospects, with Standard Chartered predicting a year-end target price of $7500, and Fundstrat even calling for a target of $10000.

However, investors still need to be wary of potential risks, such as sudden changes in regulatory policies or overall market corrections that may trigger fluctuations in the ETH price.

Suggestions for different investment strategies:
- Medium to long-term investors may consider gradually building positions in the range of 4600-4800 US dollars.
- Short-term traders can wait for confirmation of a breakout above $4800 and decide the entry timing based on changes in trading volume.
- Regardless of the strategy adopted, attention should be paid to controlling position size and maintaining flexibility.

Overall, ETH is currently experiencing strong momentum, driven by inflows from ETF funds, technological upgrades, and support from institutional investors. However, even in a favorable market, investors should remain rational, manage risks appropriately, and be prepared to seize larger market opportunities.