Ethereum Eyes $4,000 as Bullish Momentum Builds
Ethereum (ETH) is once again in the spotlight as it sets its sights on the $4,000 level, driven by strong technical indicators and growing market optimism.
According to analysis from charting platform TrendSpider, Ethereum is nearing a major breakout. In a July 8 post on X, the platform highlighted that after reclaiming the $3,800 level, ETH is having its ”main character moment.”
The cryptocurrency has shown strong upward momentum after months of trading between $2,000 and $3,000. In mid-July, Ethereum broke through key resistance zones at $3,000 and $3,200, triggering a wave of buying that pushed prices close to $3,800.
TrendSpider’s analysis pointed to a cup-shaped pattern forming over the past six months — a technical setup often seen before significant price rallies. Additionally, the volume profile suggests solid support between $2,500 and $3,000, where heavy trading previously occurred.
Investors Watching Key Price Targets
Market sentiment around Ethereum remains optimistic. In a TrendSpider poll, 80.5% of respondents said they expect ETH to reach $4,000 by 2025. Among them, 41% predicted a move to $5,000, while 26.5% see ETH reaching $6,000. More bullish forecasts target $7,000 (17.5%) or even $8,000 (13.5%).
Institutional interest is also helping fuel the rally. On July 18, Ethereum ETFs recorded $402.5 million in net inflows — topping Bitcoin’s $363.4 million. BlackRock’s ETHA accounted for the majority of the activity, helping push total Ethereum ETF assets to $18.37 billion.
On-chain data shows large investor activity is increasing as well. A notable whale recently purchased 13,462 ETH (valued at roughly $50 million) at $3,715. Meanwhile, futures open interest has risen nearly 13% month-over-month to $786 billion. Traders like James Wynn are reportedly placing significant leveraged bets, including a $12.1 million 25x long position.
Ethereum Price Update
As of press time, Ethereum was trading at $3,745 — up over 5% in the last 24 hours and 25% in the past week.
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