Let’s take a quick look under the hood Ethereum is proving it has serious conviction as it turns 10, bouncing back over $3,850. Our recent analysis shows the bullish potential here is strong, with some price prediction models for 2025 pointing to massive gains. Traders watched for an ascending triangle breakout pattern with a price target of $16,700. Ethereum’s current price of $3,858 represents a remarkable 80% rise from the low achieved in June. Needless to say, a few things — such as shrinking exchange balances and positive steady inflows into spot ETFs — feed this exuberant expectations.

Ethereum meanwhile, has rocketed more than 300% since setting a cycle bottom of around $880 in June 2022. The cryptocurrency’s spot ETFs have just hit a remarkable 18-day run of net inflows. These cumulative net inflows have now surpassed $9.6 billion since the July 2024 rollout of these investment vehicles.

Ascending Triangle Breakout

The ascending triangle breakout pattern, pointed out by several analysts, provides a target of $16,700 for the bullish move. This technical formation is generally regarded as a bullish signal, a sign of powerful upward momentum. Ethereum in return has already set a key resistance level of their own at $4,000. The next resistance target level is at $4,100 which if broken, may create an opportunity for additional bullish momentum.

$16,673 At the same time, this projection reflects a staggering 350% increase from today’s levels. That kind of increase would need ongoing extremely strong bullish momentum and very favorable and positive market sentiment to happen.

ETHEREUM IS SET FOR A MACRO BREAKOUTIT WILL SPARK OFF A HUGE ALTSZN IF IT HAPPENSA VERY CRITICAL MOMENT FOR ETHEREUM - Mikybull

Ethereum’s ability to stay above the $3,750 breakout area suggests that bullish traders have a lot of conviction.

By holding above the $3,750 breakout zone, Ether is showing that bulls are not in a hurry to take profits and believe that there is still significant room for another phase of price discovery. - Ray Youssef

Supply Dynamics and ETF Inflows

Ethereum’s exchange balances have hit a nine-year low, suggesting a continued reduction in available supply. This scarcity, combined with increasing future demand, would make the cost unaffordable. The zone around $3,000 is the most fascinating for Ethereum, serving as an important support level.

Ethereum’s circulating supply to accommodate the ever-increasing demand is slowly disappearing. Spot ETFs have been instrumental in this dynamic. The streak of deep inflows into the ETFs is more than just a coincidence — it reveals an accelerating institutional interest and confidence in Ethereum’s long-term potential.

The demand for Ether is growing rapidly, and the circulating supply to meet this demand is steadily evaporating. This rare combination of factors has been known to historically precede explosive upside movement. - Ray Youssef

This bullish sentiment has been further highlighted by an incredible 18 consecutive days of positive inflows into Ethereum spot ETFs.

The move in ETH prices of late signifies more of an overdue directional move as the institutional market looks for alpha opportunities. - Paul Howard

Resilience and Future Outlook

Much of this resilience can be traced to its growing value as a distinct, digital infrastructure. Today, some analysts claim that extraordinary circumstances will be needed for Ethereum to even hit $50,000. The rest of us keep holding out hope for its promise to drastically expand.

Despite conditions that would typically fuel a broad risk-off environment, Ethereum has demonstrated unusual resilience, reflecting its growing role as digital infrastructure rather than just a speculative asset. - Ray Youssef

Ethereum’s symbolic rebound above $3,850 heights Ethereum’s 10th anniversary celebration reinforces its strength and potential.

ETH was heavily undervalued for a long time, and its ascension back to $4K and beyond likely gives scope for continued price appreciation, though he anticipates more modest gains in Q3 compared to Q2's explosive growth. - Paul Howard

Ethereum's symbolic rebound above $3,850 during its 10th anniversary celebration underscores its strength and potential.

If geopolitical tensions and macro headwinds intensify, ETH might retest the $3,500 support zone, and breaking below $3,500 could lead to a deeper pullback towards $3,100. - Ray Youssef