Ethereum (ETH) is stabilising near $1,800 following a price drop. Strong institutional interest suggests future price gains, supported by significant ETF inflows. Recent indicators show bullish patterns, pointing towards potential targets of $2,100. Market sentiment has improved but ETH must break through key resistance levels to maintain momentum.
Ethereum (ETH) is currently holding steady at about $1,800, following a significant price adjustment recently. Analysts note that after a robust 45% drop in the first quarter of 2025, technical indicators point towards ETH being undervalued. With a notable increase in institutional interest reflected by a record inflow of $151.7 million for ETH exchange-traded funds (ETFs) in the week ending April 25, attention is turning to whether ETH can hit the $2,100 target if it surpasses key resistance levels.
In the last few trading sessions, Ethereum has shown resilience around $1,800. After pulling back from the $1,850 zone, ETH has found support near $1,780 and seems poised for its next move. Market observers are now closely watching to see if the cryptocurrency can break through the pressing $1,850 resistance and maybe even push towards that elusive $2,000 mark. Interestingly, this price level corresponds with the Fibonacci retracement level at 61.8%, a key indicator for many traders.
A significant aspect of the current bull sentiment around Ethereum is the surge in institutional trading. Just last week, spot ETH ETFs reported inflows of a whopping $151.7 million, the highest seen since February. Following that, an additional $64.1 million came in on April 28. These inflows effectively reversed an eight-week streak of outflows and suggest a positive shift in how institutions perceive the digital asset space. James Butterfill, Head of Research at Coin Shares, attributes this trend to investors seeking digital alternatives amidst worries about corporate earnings and a weakening dollar.
Technical patterns on ETH’s hourly chart reveal that the MACD is picking up steam in the bullish zone. Meanwhile, the RSI stands above 50, indicating a positive market mood among traders. If Ethereum manages to breach the $1,850 zone, analysts suggest it could aim for $1,920, with ambitions to eventually reach $2,000. Moreover, a bull flag pattern has formed, which if confirmed, could indicate a rise towards $2,100, symbolising a potential gain of about 15% from current levels.
Investor sentiment, as indicated by the Fear and Greed Index, has seen quite the turnaround, moving from a worrying low of 15 to a more neutral 53 in just two weeks. This change reflects a recovering market mood despite broader economic uncertainties. Importantly, the volume profile analysis has revealed that if Ethereum can secure a position above $1,900, it could rapidly escalate toward the $2,100 mark.
Data from futures markets is also bullish. Traders are reportedly closing out significant short positions amidst ETH’s price climb, evidenced by a $273 million dip in open interest in Ethereum futures, reflecting more cover rather than new short positions. However, failure to breach the $1,850 resistance could see Ethereum slip back to $1,780, or even head towards major support at $1,750 or late-stage targets around $1,620 to possibly as low as $1,600.
Despite recent price drops, Ethereum’s foundational ecosystem is retaining its strength. The blockchain remains the leading layer-1 network with over $51.8 billion in total value locked (TVL), an increase of about 16% within just the last week. Protocols including Aave and Lido are seeing impressive growth which adds to the overall health of the network. The Ethereum Foundation has also made noteworthy leadership updates, appointing new co-executive directors, and refocusing efforts on scaling the Ethereum layer in the coming year.
Looking ahead, analysts suggest that Ethereum could realistically aim for several key price levels, projecting short-term targets around $2,101. Medium-term forecasts extend to $2,300, $2,500, and even $2,800, with long-range goals potentially touching $3,000 and beyond. Crucial to sustaining this bullish sentiment will be ETH’s ability to maintain above the $1,800 mark, and a clean break past $2,000 could indeed set the stage for Ethereum to advance significantly in the months to come.
