- Ethereum sustains above $4,000, turning resistance into firm support after over three years of consolidation and repeated breakout attempts.
- Grayscale’s spot staking ETP approvals mark a pivotal shift, drawing renewed institutional confidence into Ethereum’s long-term outlook.
- Analysts project an extended rally toward $7,331, aligning with the 1.618 Fibonacci level and historical performance trends.
Ethereum continues to maintain strength after breaking above the key $4,000 level, turning a major resistance zone into a solid support base. The digital asset now trades near $4,520, signaling renewed market conviction. Crypto analyst Mags noted that this breakout came after 1,146 days of consolidation, marking a technical milestone in Ethereum’s long-term structure.
According to Mags, Ethereum’s chart pattern reveals three prior rejections near $4,000 before achieving a clean breakout on the fourth attempt. This movement highlights stronger buyer participation and reduced sell pressure. The analyst identifies the 1.618 Fibonacci extension level, aligning with a $7,331 projection, framing Ethereum’s next major target zone.
Strong Recovery Confirms Market Confidence
A brief fakeout near $3,800 was swiftly reversed through a sharp V-shaped recovery, demonstrating robust demand. Since then, Ethereum has remained comfortably above $4,000, suggesting that long-term holders continue to accumulate. CoinGape’s independent projection supports a similar perspective, suggesting that ETH could extend gains up to $8,600 in line with past market cycles.
Source:TradingView
Grayscale’s approval for its spot staking Ethereum ETPs has introduced a regulated channel for institutional exposure. The Ethereum Mini Trust ETF and the Ethereum Trust ETF are the first U.S.-listed funds offering staking rewards. This development marks a step forward for institutional engagement with yield-based crypto assets.
Institutional Inflows Align With Bullish Technicals
Investment firm BitMine recently disclosed an $820 million Ethereum purchase, underscoring institutional appetite for exposure to Ethereum’s network. The timing coincides with Grayscale’s ETP milestone, amplifying optimism across the market.
Ethereum’s sustained price stability above $4,000, coupled with new institutional participation, strengthens its long-term growth narrative. Analysts now see growing potential for Ethereum to approach the $7,331 target if momentum continues to build across technical and institutional fronts.
