#Ethereum ($ETH ) may be ready for its next big move after months of decline. Bullish technical setups and institutional demand might push the second-largest cryptocurrency by market value beyond the psychologically critical $2,000 threshold.

Over the previous week, ETH has recovered from $1,575 on April 22 to $1,830 now. This roughly 20% rise has revived market optimism.

Technical experts feel this jump may be the start of a bigger shift. According to X analyst Kiran Gadakh, ETH might approach $2,000 if it closes a 4-hour candle above resistance (red line) on a 12-hour chart.

Meanwhile, Ethereum spot ETF inflows are rising. ETH spot ETFs received nearly $64 million on April 28, according to SoSoValue. In particular, ETH ETFs saw their first weekly net inflow since February 2025 in the week ending April 25.

The net assets of US ETH spot ETFs are $6.20 billion, or 2.87% of Ethereum's market value. Institutional interest in these ETFs is expanding as net inflows exceed $2.47 billion.

Increased institutional demand supports Ethereum's bullish thesis. CoinShares statistics showed $183 million in $ETH investment product inflows last week. This ends an eight-week outflow run, signaling investor sentiment is changing.

Decentralized finance (DeFi) on Ethereum is also increasing. TVL in Ethereum-based DeFi systems has risen more than 10% since April 22, to $51.67 billion, according to DefiLlama.

Despite this hopeful evidence, not everyone believes Ethereum is safe. Crypto analyst Nebraskangoner called ETH's price movement “sloppy.” As he noted:

Sloppy pricing. This diverged over resistance and is rejecting on growing volume, therefore I expect it to drop to this support zone below.

Still, exchanges' declining ETH stockpiles are stoking supply pressure fears. If this trend continues, ETH may break $2,000 and maintain higher levels. ETH is $1,819 at press time, up 3.5% in 24 hours