Ethereum has climbed almost 9% over the past month to trade near $1,900, and analysts say a reclaimed long-term trendline points to a larger bullish structure. Corporate treasuries have also overtaken exchange-traded funds as the biggest buyers of the asset.
Ethereum trades near $1,900 after climbing almost 9% over the past month, yet it remains far below its previous all-time high. New data points to a strengthening long-term setup, as technical signals and institutional demand support the broader outlook.
Ether Reclaims Descending Trendline
Analyst Crypto Patel said the altcoin is showing one of its strongest high-timeframe bullish structures. After several failed attempts, ETH has reclaimed its long-term descending trendline and now consolidates above it. According to the analyst, the structure stays valid as long as ETH records daily closes above $1,510.
Based on the technical read, Crypto Patel identified upside targets of $2,400, $3,000, $3,600, $4,200 and $5,000, with the final target potentially pushing ETH toward a new record. The analyst added that breakouts typically follow periods of accumulation.
MVRV Golden Cross Points to $3,000
Another bullish signal came from the MVRV Momentum golden cross, according to Ali Martinez. He said a move toward $3,000 could be on the cards after ETH broke above the MVRV level near $1,800, noting that similar golden cross signals in the past preceded major rallies.
Analysts differ on short-term targets but broadly agree the structure is improving. Michaël van de Poppe, founder of the MN Fund, also sees more upside for Ethereum. A breakout appears to be a matter of time, according to van de Poppe, with ETH potentially moving toward the $2,300-$2,500 range.
Treasuries Overtake ETFs as Biggest Buyers
Beyond price action, corporate treasuries have overtaken exchange-traded funds as the biggest buyers of Ethereum. Crypto Patel also found that nearly 11% of ETH's total supply is already locked by ETFs and digital asset treasury companies. That growing share held by these entities points to rising institutional participation in the market.
Source: CryptoPotato
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