Ethereum Holds Above $4,200, Eyes $5K Amid Spot ETF Demand
Ethereum has maintained its price above $4,200, trading around $4,303 after a slight 1% rise in 24 hours. The rally is driven by strong spot ETH ETF inflows, which attracted $327 million last week, and growing corporate treasury demand. Notable investments include SharpLink Gaming’s purchase of 52,809 ETH (~$220 million) and BitMine Immersion’s holdings exceeding $2.9 billion. Technical indicators on the 4-hour chart show bullish momentum, with RSI at 67 and positive MACD. Ahead of this week’s U.S. inflation reports (CPI and PPI), analysts predict a possible breakthrough of the $4,891 all-time high and a first-time test of $5,000. If selling pressure emerges, support levels lie at $4,150 and $3,874. Market observers still forecast a long-term target of $6,000 for Ethereum.
Bullish
Ethereum’s sustained performance above $4,200, fueled by substantial spot ETF inflows and corporate treasury acquisitions, mirrors past rallies triggered by institutional demand. The positive technical indicators—RSI at 67 and bullish MACD on the 4-hour chart—support further upside potential. Historically, similar ETF-driven surges propelled ETH toward new highs in late 2021. With U.S. inflation data looming as a catalyst, short-term momentum remains bullish if CPI and PPI figures align with expectations. In the long term, continued ETF adoption and corporate reserve allocations could solidify Ethereum’s uptrend, setting the stage for a possible $6,000 target. However, a failure to hold key support at $4,150 may prompt a pullback to $3,874.