Ethereum Could Hit $16K This Cycle, Says Analyst, Citing Technical Breakout and Institutional Demand
Ether (ETH) held steady near $3,800 on Thursday as bullish projections gained traction across the crypto landscape. Among them, technical analyst “Edward” shared a compelling case for Ethereum reaching $15,000–$16,000 during the current market cycle, citing a mix of favorable chart patterns, ETF inflows, and growing institutional interest.
According to Edward, a prominent chartist on X, Ethereum’s long-term structure is forming a textbook ascending triangle on the monthly chart — the same bullish pattern that preceded ETH’s explosive 2,000% rally in 2020. He believes a breakout above the key $4,000 resistance level could spark a fresh leg higher toward five-digit territory.
“The setup is clean. Demand is strong. Supply is capped,” Edward wrote. “If we break above $4,000 with conviction, the next stop could be $15K–$16K.”
The analyst highlighted three primary catalysts supporting his thesis:
- Institutional Accumulation: ETH volatility has dropped even as inflows rise, a signal that long-term investors are gradually building positions.
- Sustained ETF Momentum: Spot ether ETFs have logged 18 consecutive days of inflows, totaling more than $5.3 billion since early July.
- Ethereum as Financial Infrastructure: Edward emphasized Ethereum’s increasing role in decentralized finance and real-world asset tokenization, driven by innovations in restaking and Layer 2 scaling.
He warned that with ETH issuance now under 1 million tokens annually and corporate treasuries beginning to accumulate, a supply crunch could soon emerge.
“Ethereum is no longer just a tech play — it’s becoming part of the global financial stack,” Edward noted.
Market Perspective and Risks
Not all analysts share the same conviction. Michaël van de Poppe pointed out that recent declines in ETH volatility could indicate a near-term top. He sees potential resistance at $4,000 and expects a possible correction before any larger move higher.
Still, van de Poppe views a short-term pullback as part of a broader bullish cycle that could support altcoins over the next 12–24 months.
Price Action and Technical Metrics
At the time of writing, ether was trading at $3,800, up 1.01% over the past 24 hours, according to CoinDesk data.
- 24-Hour Performance: ETH rose from $3,762.87 to $3,800.85 (+1.01%).
- Trading Range: 4.87% swing between $3,693.42 (low) and $3,873.39 (high).
- Key Activity: A sharp rebound from a dip to $3,685.69 around 18:00–19:00 UTC suggested institutional buying.
- Support Zone: Accumulation observed near $3,825.
- Closing Action: Final hour trading showed tight consolidation between $3,825.22 and $3,842.71 — a sign of orderly positioning.
