Ethereum price trajectory is showing renewed strength this week, as a combination of chart-based indicators and institutional developments boost investor sentiment. Analysts have pointed to multiple bullish signals suggesting that Ethereum could be on the verge of a substantial move higher, with several predicting a potential rally toward the $8,000 level.
Ethereum Price Marks Rebound, Holds Above $4000
The rebound follows a steady recovery from last week’s lows, with Ethereum now trading around $4,048, marking a 3.96% increase over the past 24 hours. The recent uptick comes as analysts highlight the alignment between technical formations and overall market support.
Market strategist John Bollinger, creator of the Bollinger Bands indicator, recently observed that Ethereum’s price structure is forming what he described as a “W” bottom, a chart pattern historically associated with market reversals and renewed upward trends. This setup is typically seen when an asset undergoes a two-phase decline, followed by a stronger rebound that forms a higher low, signaling potential accumulation.
Bollinger’s observation also noted that Ethereum and Solana appear technically more constructive than Bitcoin, which has yet to show similar confirmation patterns. At the same time, institutional interest in Ethereum continues to grow. Asset manager VanEck has filed to launch a staked Ethereum exchange-traded fund (ETF), signaling confidence in Ethereum’s long-term ecosystem.
The proposed product would offer investors exposure to both ETH’s price and staking rewards, potentially through liquid staking platforms such as Lido Finance. This development introduces a regulated avenue for institutional participants to access yield-bearing Ethereum assets. Market observers view this move as a major step toward mainstream integration of staking within traditional finance.
Analysts say this institutional advancement is adding momentum to an already improving technical setup. Javon Marks, a crypto market analyst, has identified a bullish divergence on the daily chart, indicating that buying strength is returning even as prices consolidate. Marks points to $4,811 as a key resistance zone. A clear breakout above this level, he argues, could pave the way for a larger move toward the $8,000 region, aligning with his projection for Ethereum’s next major leg up.
Technical Levels for ETH Price
Technically, Ethereum’s structure has strengthened after rebounding from its recent low near $3,444. Now, Ethereum price is maintaining support around $3,700, a level seen as a healthy accumulation area by traders. On the daily timeframe, Ethereum has confirmed a bullish pennant formation, often interpreted as a continuation signal within an ongoing uptrend.
Further analysis places the 0.618 Fibonacci retracement at $4,255 as immediate resistance, while $4,757 serves as the breakout point to monitor. Should Ethereum clear this region decisively, chart analysts estimate the 1.618 Fibonacci extension near $5,568 as the next major target. These levels outline a stepwise progression that defines Ethereum’s potential path forward.
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