The second-largest cryptocurrency has rebounded from the local bottoms witnessed last month, and now multiple analysts believe the price is ready to jump even higher.
Growing institutional interest supports the bullish thesis and could indeed pave the way for a more substantial upward move.
As of press time, ETH trades at around $1,750, representing an 8% increase over the past week and a 17% rise from its June low. X user Ted noted that the asset recently tapped the $1,820-$1,850 resistance zone but got rejected. At the same time, he highlighted ETH’s ability to hold the $1,750 support and predicted that a decisive breakout could open the door for a rally toward $2,000.
Earlier this week, Poseidon claimed that ETH has formed a double bottom under $1,800 and wondered why some people expect a decline given how bullish this pattern typically is.
“ETH to $2,500 before September,” they added.
For his part, Ali Martinez said that the asset has recently tested the $1,580 support, reminding that in recent years this specific level has served as “a primary demand zone, halting corrections and triggering major upward expansions.” He noted that in October 2023, this setup was followed by a 149% pump, while last year it secured the floor, fueling a massive 203% explosion.
The renewed interest from institutional investors reinforces the positive outlook. Data show that spot ETH ETFs have seen five consecutive green days, the longest streak since April. This means that pension funds, hedge funds, and other conservative investors have increased their exposure to the asset, forcing BlackRock, Fidelity, Franklin Templeton, and other financial behemoths to purchase ETH, thus setting the stage for a more substantial upswing.
Ethereum’s Relative Strength Index (RSI) indicates that bulls may suffer more pain in the near future. The ratio has increased to 70, meaning that the asset has entered overbought territory and could be due for a correction. The technical analysis tool ranges from 0 to 100, and readings below 30 are considered bullish zones.
Some popular analysts support the theory that ETH hasn’t reached its cycle bottom yet. An example is the popular X user KALEO, who believes that a potential crash to $1,000 would occur before a possible spike to $5,000.
The post Ethereum (ETH) Rises 8% Weekly: Is a Bigger Pump Coming Next? appeared first on CryptoPotato.
小靓分析：
🦊 小靓解读
ETH近一周反弹8%至$1,750，技术面在$1,750形成支撑，$1,820-$1,850为短期阻力区。双底形态若确认有效，突破阻力后有望向$2,000发起冲击。
📊 市场影响
机构兴趣增强为反弹提供基本面支撑，但$1,850阻力未破前，短期仍以震荡为主。若放量突破，可能触发空头止损，推动加速上行。
💡 操作建议
关注$1,750支撑有效性，跌破则需警惕回测$1,600。反弹行情中建议轻仓参与，突破$1,850后再考虑加仓，严格设止损。
风险提示：
该资讯来源于公开渠道，仅供参考。Traceless 无痕智盈平台不对此信息准确性做任何保证。