- Ethereum maintains a strong bullish structure with consistent higher highs and growing market volume.
- Institutional inflows from Grayscale and reduced exchange reserves support long-term price stability.
- Over 35.7M ETH staked and low supply growth create favorable conditions for continued upside momentum.
Ethereum (ETH) has shown a strong bullish recovery after rebounding from the $3,800 support level. The cryptocurrency broke multiple resistance points, reaching new multi-year highs, while maintaining strong on-chain fundamentals and growing institutional inflows. At the time of writing, Ethereum was trading at $3,706, reflecting sustained buying momentum.
Ethereum Price Performance and Technical Structure
According to analysis prepared by Ali Charts, Ethereum’s price history between 2021 and 2026 shows a consistent upward recovery. The asset peaked near $4,800 in 2021 before declining below $1,000 in 2022. It then recorded a pattern of higher lows through 2023 and 2024, signaling long-term market strength.
The chart shows that, following the consolidation around the region of $3,900 Ethereum followed the bullish pattern of breaking the $4,400 and surging to $4,900. It then proceeded to hit the $5,200 mark making it a new support zone. Further breakouts beyond $6,400 and $7,200 pushed the price toward the $8,000 resistance target.
The 2024 trendline is moving steadily with more investors involved, as it is backed up by high trading volumes and structural integrity. Ethereum’s price movement has reacted predictably to established horizontal levels. The asset’s consistent formation of higher highs and higher lows indicates strong accumulation by both retail and institutional participants.
Institutional Demand and On-Chain Supply Dynamics
Grayscale Ethereum Mini Trust ETF recorded total net inflows of $1.54 billion, leading among Ethereum-based funds. The ETF closed at $36.19 on October 31, though the trading got active prior to the weekend. Year-to-date returns of 19.12% and a one-year performance of 50.04% suggest growing investor confidence.
According to CryptoQuant, exchange reserves have fallen to a multi-year low of 15.6 million ETH, suggesting reduced selling pressure. Meanwhile, more than 35.7 million ETH are staked and this is one of the reasons that will lead to a possible supply squeeze. Analyst Crypto Goos stated, “With Ethereum’s supply growth under 1% annually and high staking, the conditions for a major bullish run are favorable.”
Institutional data from SoSoValue confirms positive sentiment, with Grayscale’s inflow of $56.05 million surpassing other Ethereum ETFs, including BlackRock (ETHA) and Fidelity (FETH). If Ethereum maintains its trend above $3,850, analysts expect continued inflows and further upside momentum toward higher resistance levels in the coming weeks.
