Ether (ETH) hovered near $ 3,800 on Thursday as the increasingly bullish price targets circulated on crypto-social media, including an analyst outlining a case for $ 16,000 based on long-term technical setups and sustained institutional inflows.
“Edward”, a popular chart analyst at X, argued in a Thursday post that a five -digit Ether price is now within reach pointing to a “pure rising triangle” formation on the monthly ETH diagram. This structure, often seen as a pre-breakout pattern, reflects technical conditions observed in 2020-like before Ether began on a 2,000% rally.
In Edward’s view, a crucial breakout of $ 4,000 could trigger a similar feature, with the triangle’s projected vertical interval involving potential upside against the $ 15,000 – $ 16,000 zone. “The structure is there. Demand is rising. Supply is uncovered,” he wrote, noting that momentum and basic elements appear to be in line for the first time this year.
He pointed to three main drivers who burned the prospects: the accumulation of institutions, the continued success of Ether ETFs and Cryptocurrency’s new role as financial infrastructure. According to Edward, the volatility of ETH has decreased as the influx increases that long-term investors are quietly construction positions. “This is not retail -driven mania; it is long -tailed institutional structure. Quiet, sustained and methodically,” he said.
Edward also cited an increase in Spot Etf -Tf streams, now a total of over $ 5.3 billion across 18 consecutive trading days since the beginning of July. With Ether Issuing, which is uncovered at less than 1 million tokens annually, and the corporate chains also accumulated, he warned of a threatening supply pressure.
Finally, Edward emphasized that Ethereum’s function as programmable security-activated by Restake, Layer 2S and Real-World Asset Integration has placed ether as part of the “economic core” of a multi-chain economy. “Price targets like $ 15,000 are based on a changing macrolol,” he noted.
Some analysts warn that ether may encounter resistance before any long -term breakout can grab.
Michaël van de Poppe noted that volatility has dropped sharply in recent sessions, a pattern that often goes ahead of local peaks. He suggested that Ether could face short -term resistance near the $ 4,000 level before entering a modest corrective phase. However, he framed such a withdrawal as a healthy break in what he thinks is the start of a wider Altcoin Bull cycle that could unfold over the next 12 to 24 months.
At the time of writing, Ether is about $ 3,800, an increase of 1.01% over the last 24 hours, according to Coindesk data.
Technical analysis highlights
- According to Coindesk Research’s technical analysis data model, ETH increased 1.01% in the 24-hour period, ending July 31 at 1 p.m. 12:00 ADC, and rose from $ 3,762.87 to $ 3,800.85.
- The trade area stretched 4.87%from an intraday low of $ 3,693.42 to a high of $ 3,873.39.
- A sharp V-shaped recovery followed a high-volume doll for $ 3,685.69 over 18: 00-19: 00 UTC window that signaled institutional purchases.
- ETH closed the day near $ 3,800, with volume -supported jumps suggesting accumulation to $ 3,825.
- The last Times Trade (11: 36-12: 35 UTC) showed disciplined consolidation with price action contained between $ 3,825.22 and $ 3,842.71.
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