The recent trend has shown a key breakout line, with both technical analysis and market sentiment signaling that a new upward cycle may be beginning.

More notably, research institutions are starting to discuss the possibility of ETH reaching $20,000. This is not a fleeting community hype but based on multi-dimensional analysis—new market cycles, continuous influx of ETF funds, and the ongoing accumulation of Layer2 ecosystem value.

Why is this time different?

From a technical perspective, this line appears at a critical point with a volume breakout, often indicating a re-pricing of bullish and bearish forces. From a macro narrative perspective, factors such as the persistent inflow of funds into Bitcoin ETFs, rapid growth in Layer2 network activity, and the development of the re-staking ecosystem are fermenting simultaneously. Looking at cycle patterns, in every bull market, ETH has never played a secondary role.

When technical breakthroughs resonate with institutional forward-looking judgments, market momentum often exceeds expectations. The $20,000 target may seem distant, but it actually anchors the market—it tells participants that the realm of imagination has been opened. Whether or not this goal is ultimately achieved, it reflects a collective re-evaluation of the future cycle.