As asset purchase activity rises again, Ethereum (ETH) is attracting the attention of investors.
Ethereum [ETH] is the largest altcoin in the world, having risen nearly 10% in less than a week, trading below $3,900 at the time of writing—indicating that interest in cryptocurrency has reignited. But that's not all. Due to the increasing interest from U.S. investors and declining foreign exchange reserves, ETH may soon show a significant upward trend on the charts. ETH is attracting more interest from U.S. investors, and the Coinbase premium index on CryptoQuant proves this. At the time of writing, the index value is 0.1440—its highest level since April 2024. It is worth noting that this is a period of significant price increase for ETH. The Coinbase premium index tracks the price difference of ETH between the major U.S. cryptocurrency exchange Coinbase and other global platforms like Binance.
The higher the reading, the greater the demand for ETH from U.S. investors relative to the international market. The surge in the above index can be interpreted as growing interest in the asset, which may lead to further increases in ETH. What’s next for ETH? According to analyst Venture Founder, ETH may soon break through a three-year consolidation triangle pattern. This often signals the beginning of a rebound. Once this breakout occurs, driven by strong buying momentum (potentially from U.S. investors and other market participants), the price of ETH could rise. As shown in the attached chart, potential target price levels may also range between $11,000 and $15,000.
The popular analyst added, '[ETH] target price: $15,937.' It is worth noting that whether the asset can reach these levels depends on whether ETH can replicate the 'impulsive' price movements seen between 2016 and 2017. The blue line on the chart marks this. If this pattern holds, ETH may continue to rise to the projected price levels. The market is gearing up. Furthermore, recent data shows that ETH exchange reserves have continued to decline, standing at 19.3 million ETH at the time of writing. A decline in exchange reserves typically means a decrease in the supply of ETH circulating on exchanges. Coupled with rising demand, this usually leads to price increases. Additionally, Ethereum’s total value locked (TVL) (which measures the amount of ETH invested across various protocols) has surged to $71.08 billion. This is the level last seen in 2022.
All these trends cumulatively suggest an optimistic outlook for ETH, reflecting strong market confidence and the potential for continued growth as demand rises.
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