David Duong, director of research at Coinbase Institutional, posted on social media,"The words written on Thursday night still apply: Last week, the rise in ETH was mainly driven by technical factors, backed by a large number of mismatched positions, short covering and subsequent repositions. This round of rise is actually a compensation increase for ETH, catching up with peers such as BTC and SOL. However, we believe that this price trend does not mean that the market has a strong willingness to allocate ETH at a broader level, and demand is still limited."