Ethereum shows bullish divergence with analysts eyeing $4,700 to $8,000 as key upside targets.
Institutional investors accumulate over 379,000 ETH, signaling strong confidence in long-term growth.
Technical support near $3,700 and resistance at $4,811.71 define Ethereum’s next breakout range.
Ethereum (ETH) is displaying a clear bullish divergence, signaling renewed buying strength and possible movement toward the $4,700 level. The market structure shows improving momentum following recent consolidation, with traders monitoring resistance near $4,811.71. A confirmed breakout beyond this level could open the path toward the $8,000 range. At the time of writing, Ethereum was trading at $4,032.
Bullish Divergence Indicates Renewed Uptrend Potential
According to analysis prepared by Javon Marks, “Clear bullish divergence set on ETH and this is suggesting movement back into the $4,700s.” This quote echoes a notable change in the technical configuration of Ethereum in which the prices make lower lows but indicators make higher lows indicating an increasing trend momentum.
https://twitter.com/JavonTM1/status/1979978169776996559
The current chart demonstrates that Ethereum has recovered out of the support zone of $3700 and has now regained its level of stability over several trading sessions. The pattern suggests that buyers have maintained a steady strength, having supported price action above the main trendline.
Ethereum’s immediate resistance is close to the $4,700 mark, and the critical mark is $4,811.71. Marks noted that a break above this threshold “brings $8,000+ into play,” emphasizing the importance of continued momentum. Market participants view this area as a potential confirmation zone for extended bullish continuation through late 2025.
Institutional Accumulation and Technical Support Reinforce Market Outlook
Blockchain data tracked by BitGo and Kraken confirmed large-scale Ethereum acquisitions by BitMine Immersion Technologies. The company purchased 379,271 ETH across three separate transactions following the latest market downturn. BitMine’s total holdings now exceed 3.03 million ETH, valued at more than $12 billion, representing about 2.5% of the circulating supply.
Chairman Tom Lee described these purchases as “strategic long-term investments,” maintaining a $10,000 to $12,000 price target for late 2025. He cited potential Federal Reserve rate adjustments, growth in tokenized finance, and strong network fundamentals as key supporting factors.
Meanwhile, according to analyst Michael Van de Poppe, “The ideal zone for buys has been hit on ETH. A new leg upwards is on the horizon.” Ethereum’s technical readings and consistent accumulation from institutional investors suggest a solid foundation for continued recovery. With the clear bullish divergence confirmed, traders are now focused on the $4,811.71 level as the next major target.
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