Ethher (ETH) was around $ 3,800 on Thursday when the increasingly upward price objectives circulated on cryptographic social networks, including an analyst who described a case for $ 16,000 based on long -term technical configurations and sustained institutional entries.
“Edward”, a popular table of the table in X, argued in a Thursday publication that a five -digit ether price is now available, pointing out a “clean ascending triangle” formation in the monthly ETH table. This structure, commonly seen as a pattern prior to rupture, reflects the technical conditions observed in 2020, just before the ether embarked on a 2,000%rally.
In Edward’s opinion, a decisive breakdown above $ 4,000 could trigger a similar movement, with the projected vertical range of the triangle that implies upward potential to the $ 15,000- $ 16,000 area. “The structure is there. The demand is increasing. The supply is limited,” he wrote, pointing out that the impulse and the foundations seem to be aligned for the first time in years.
He pointed to three main drivers who fed the perspectives: the accumulation of institutions, the continuous success of the ETHER ETFs and the emerging role of cryptocurrency as a financial infrastructure. According to Edward, Volatility in ETH has decreased even as tickets increase, evidence that long -term investors are building positions. “This is not a mania driven by retail trade; it is long -tailed institutional accumulation. Quiet, sustained and methodical,” he said.
Edward also cited an increase in ETF Spot Eth flows, now a total of more than $ 5.3 billion in 18 days of consecutive negotiation since the beginning of July. With the emission of limited ether in less than 1 million tokens annually and the corporate treasure bonds that also accumulate, warned of an imminent supply tight.
Finally, Edward emphasized that Ethereum’s function as a programmable collateral, enabled by the restart, layer 2 and asset integrations of the real world, has positioned Ether as part of the “financial nucleus” of a multiple economy. “The price objectives such as $ 15K are based on a changing macro paper,” he said.
Some analysts warn that Ether can find resistance before any long -term rupture can establish.
Michaël Van de Poppe said that volatility has declined sharply in recent sessions, a pattern that often precedes local tops. He suggested that Ether could face a short -term resistance close to the level of $ 4,000 before entering a modest corrective phase. However, he framed a setback as a healthy pause in what he believes is the beginning of a broader bull cycle that could develop during the next 12 to 24 months.
At the time of writing, Ether is quoted at around $ 3,800, 1.01% in the last 24 hours, according to Coindesk data.
TECHNICAL ANALYSIS
- According to the technical analysis data model of Coindesk Research, ETH won 1.01% in the 24 -hour period that ended on July 31 at 12:00 UTC, increasing from $ 3,762.87 to $ 3,800.85.
- The negotiation range was extended 4.87%, from an intradic minimum of $ 3,693.42 to a maximum of $ 3,873.39.
- A strong V -shaped recovery followed a high volume drop at $ 3,685.69 during the UTC window of 18: 00–19: 00, pointing out the institutional purchase.
- ETH closed the day about $ 3,800, with rebounds with volume support that suggests an accumulation of $ 3,825.
- The final time trade (11: 36–12: 35 UTC) showed disciplined consolidation, with a price action contained between $ 3,825.22 and $ 3,842.71.
Discharge of responsibility: Parts of this article were generated with the assistance of artificial intelligence tools and reviewed by our editorial team to guarantee the precision and compliance with Our standards. For more information, see Coindesk’s complete policy.
