Ethereum is building momentum, and analysts say big price gains may be coming soon.
- ETH is trading under $4,000 but could rise to $16,700
- Strong buying from ETFs and companies boosts demand
Ethereum Faces Resistance at $4,000
Ethereum (ETH) is struggling to rise above $4,000. This price level has become a key barrier. Ethereum’s all-time high was near $5,000 in November 2021. Right now, it trades about 23% below that.
Crypto analysts say that if ETH breaks above $4,000, it could start a major price move. Charts show Ethereum forming shapes like ascending triangles. These patterns often signal coming price jumps.
Technical Charts Point to Much Higher Prices
According to analysts, the next big target for Ethereum is around $16,700. That would be over 350% higher than current prices. One chart shared by the analyst Ivan On Tech shows a symmetrical triangle, another shape that signals a breakout is near.
The strong pattern is supported by the MACD indicator. This tool just showed a “bullish cross” on the monthly chart. In the past, this signal has led to large rallies for Ethereum.
Analyst Merlijn The Trader said this signal could be the start of a big rise like in 2021. Another trader, Mikycrypto Bull, said Ethereum is at a “very critical moment.”
Institutional Demand Is Growing
New investment tools like Spot Ether ETFs are bringing in a lot of money. These ETFs have seen 18 days of positive inflows in a row. Over $5.3 billion has flowed in since July 2. The total since launch is now more than $9.6 billion.
Some companies are also adding ETH to their balance sheets. For example, SharpLink Gaming bought 438,000 ETH worth $1.69 billion. That’s more ETH than the network creates in a month.
Bitwise CIO Matt Hougan says Ethereum is facing a demand-supply imbalance. The network only issues 800,000 ETH per year, but buyers might want much more.
Outlook for Ethereum Remains Positive
Between strong technical signals and growing interest from big investors, many analysts believe Ethereum’s price could rise sharply. While prices can change fast, the signs point to a possible major breakout in the coming months.
Source: cointelegraph.com
