Analyst Sees Ether Climbing to $16K This Cycle as Technicals and ETF Flows Align
Ether (ETH) hovered near $3,800 on Thursday amid renewed optimism from crypto analysts, with some projecting that the second-largest cryptocurrency could rise as high as $15,000–$16,000 in the current market cycle.
A pseudonymous chartist known as “Edward” on X laid out the case for such a move, highlighting a strong ascending triangle formation on ETH’s monthly chart — a bullish setup last seen in 2020, just before ETH began a multi-thousand percent rally. According to Edward, a decisive breakout above $4,000 could open the door for a major price expansion, with the technical structure pointing toward a $16,000 target.
“The chart structure is in place, supply remains tight, and demand from institutional players is growing steadily,” Edward wrote. “This is the most aligned ETH has been fundamentally and technically in years.”
Drivers Behind the Bullish Thesis
Edward cited three key factors:
- Institutional Accumulation: Volatility in ETH has declined while capital inflows have continued, signaling that long-term holders — not retail traders — are driving demand.
- ETF Momentum: Spot ether ETFs have now recorded more than $5.3 billion in cumulative inflows over 18 straight trading days.
- Macro Utility: Ethereum’s role is evolving beyond DeFi, with growing usage as programmable collateral for real-world assets, restaking systems, and multichain applications.
With annual ETH issuance capped and corporate treasuries entering the market, Edward warned that a supply squeeze could be imminent.
Not Everyone Is Convinced
Other analysts remain cautious. Michaël van de Poppe pointed to reduced volatility in recent sessions — often a precursor to local market tops — and flagged the $4,000 level as potential resistance. Still, he described any near-term correction as a likely setup for broader altcoin strength over the coming year.
Technicals at a Glance (As of July 31)
- ETH rose 1.01% in the past 24 hours, climbing from $3,762.87 to $3,800.85.
- Price ranged from a low of $3,693.42 to a high of $3,873.39, a 4.87% trading band.
- A sharp recovery from $3,685.69 during high-volume selling at 18:00–19:00 UTC suggested institutional dip-buying.
- Final-hour trading showed tight consolidation between $3,825.22 and $3,842.71.
Ether’s current structure suggests growing accumulation and reduced volatility — often precursors to major moves. If the $4,000 resistance breaks cleanly, analysts say the next leg up could be dramatic.
