Ethereum (ETH) is trading around $4,665, reflecting a 9.42% weekly gain despite a slight 1.20% daily decline. Analysts attribute this resilience to growing institutional demand, with spot Ethereum ETFs approved in July 2024 pulling over $11 billion in net inflows since launch. August saw the strongest weekly inflow at $2.87 billion, primarily driven by U.S. investors, with BlackRock's iShares product leading the accumulation.
Traders are increasingly targeting $10,000 within the next year, citing structural differences from past cycles due to Wall Street participation and ETF dynamics. The Ethereum Rainbow Chart suggests ETH trades well below its "bubble" range of $9,000–$10,000, drawing parallels to 2021 when skepticism preceded a rally from $1,400 to $4,954. Standard Chartered projects ETH could reach $7,500 in 2025, $12,000 in 2026, and $25,000 by 2028, driven by institutional adoption and DeFi expansion.
Technical indicators show mixed signals: the RSI nears overbought levels, but longer-term trends remain supportive. Key resistance lies at $4,800, with a break above $5,000 potentially triggering price discovery. However, cooling ETF inflows and Solana's outperformance (15% monthly gain vs. ETH) pose short-term challenges. The Coinbase Premium Index’s rise since September 9 indicates U.S. retail accumulation ahead of expected Fed rate cuts, which could boost risk assets like ETH. Ethereum’s deflationary supply mechanism—burning more ETH than issued—further strengthens the bullish case.
BNB
BTC
SOL
USDC
FIL
XTZ
NEAR