Current price: Ethereum is trading near $4,490, with an increase of around 5% in the last 24 hours, while trading volume exceeds $50 billion.
Institutional outlook
Ethereum has surpassed $4,000 —a level it had only briefly touched in the last three years— and is now trading above $4,400, driven by a wave of institutional buying from giants like Bitmine Immersion Technologies and Sharplink Gaming.
The momentum is bolstered by a more favorable regulatory context in the U.S., especially with new signs of support for ETH-based ETFs.
Techniques and pricing formation
We identified a Right Angle Broadening Formation (RABF), which projects an initial target around $6,370, with possible extension towards $8,500, should sustained momentum materialize.
There are also positive technical signals like the Bullish Pennant, which could catapult the price towards the $4,000 region if a breakout is confirmed.
Other projections even point to $9,000, based on Broadening Wedge patterns, with a historical success rate of 67% and an expansion of up to +79% from the breakout point.
Risks and precautions
Despite the strong momentum, derivatives market data still reflects a very cautious context, with no signs of euphoria, suggesting that the rally may not be sustained without additional confirmations.
Technically and fundamentally, Ethereum shows bullish potential, but if it fails to consolidate above $4,400–$4,500, it could see a correction towards levels like $3,700 or $3,200.
Conclusion
The technical and financial environment suggests a strong momentum Ethereum with institutional backing. If it manages to break and consolidate near $4,500–$4,600, we could see $6,370 and even $9,000 if sentiment remains this strong. But without firm confirmations and sustained volume, following this rally could be misleading.
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