Recently, the Ethereum (ETH) market has shown a slow but steady rise. The latest data shows that ETH is currently trading around 1870 USD, with a rise of about 1.8% in the last 24 hours, slightly outperforming Bitcoin.

Market observers point out that the $1850 area has become an important support point for ETH. If the price can stabilize above this level, it may help boost a rebound trend in the short term. It is worth noting that on-chain data is releasing some positive signals: the ETH inventory on major exchanges is gradually decreasing, which may indicate that market selling pressure is gradually easing.

At the same time, the premium for the CME Ethereum futures contracts has seen a slight rise, indicating that the attitude of some institutional investors may be shifting towards a more positive stance. These factors combined inject a certain degree of optimism into the short-term trend of ETH.

Investors and market analysts are now beginning to shift their attention towards the significant Ethereum network upgrade expected to take place in September. The progress of this upgrade could become an important factor influencing future market sentiment.

Although the current rise in ETH prices is moderate, the overall market sentiment remains cautiously optimistic. However, investors need to continuously pay attention to changes in trading volume and the broader macroeconomic environment, as these factors could significantly impact the future trend of ETH.

Overall, the Ethereum market is at a delicate balance point. Technical support, changes in institutional investor sentiment, and the upcoming network upgrade all add to the anticipation for ETH's future development. However, uncertainty in the market still exists, and investors must remain vigilant and rational when making decisions.