Ethereum has been hovering near the $1,900 level after climbing almost 9% over the past month, but it is still far below its previous all-time high.<\/p>\n
New data suggests the crypto asset is building a strong long-term setup, as technical signals and institutional demand continue to support the broader outlook.<\/p>\n
Analyst Crypto Patel said<\/a> that the leading altcoin is showing one of its strongest high-timeframe bullish structures. After several failed attempts, ETH has reclaimed its long-term descending trendline and is now consolidating above it. According to the analyst, the structure remains valid as long as it records daily closes above $1,510.<\/p>\n Based on the technical analysis, upside targets of $2,400, $3,000, $3,600, $4,200, and $5,000 were identified, with the final target potentially pushing ETH toward a new all-time high. Crypto Patel added that breakouts typically follow periods of accumulation.<\/p>\n Another bullish signal came from the MVRV Momentum golden cross, according to Ali Martinez. The analyst said that a move toward $3,000 could be on the cards after the altcoin broke above the MVRV level near $1,800. He explained<\/a> that similar golden cross signals in the past were followed by major rallies.<\/p>\n While analysts have different short-term targets, they broadly agree that the structure is improving. Micha\u00ebl van de Poppe also sees more upside for Ethereum. According to the MN Fund founder, a breakout appears<\/a> to be a matter of time, with ETH potentially moving toward the $2,300-$2,500 range.<\/p>\n Beyond price action, corporate treasuries have overtaken exchange-traded funds (ETFs) as the biggest buyers of Ethereum. The analyst also found<\/a> that nearly 11% of the asset\u2019s total supply is already locked by ETFs and digital asset treasury (DAT) companies. This growing share of ETH held by these entities points to rising institutional participation in the market.<\/p>\n For instance, Bitmine Immersion kept up its aggressive buying streak last week and added<\/a> another 10,399 ETH to its treasury. The purchase lifted the company\u2019s holdings to nearly 5.8 million units, which is around 4.8% of Ethereum\u2019s circulating supply. It follows a similar purchase of 9,946 units a week earlier. Bitmine Chairman Tom Lee claimed that the crypto outperformed the Nasdaq 100 by 25 percentage points in July.<\/p>\n Earlier this week, Italy\u2019s largest banking group, Intesa Sanpaolo, boosted<\/a> its Ethereum exposure in the second quarter by significantly increasing its position in a staked ETH ETF from 116,200 shares to 349,600.<\/p>\n The post Ethereum\u2019s $5,000 Path? ETH Reclaims a Key Level as Institutions Keep Accumulating<\/a> appeared first on CryptoPotato<\/a>.<\/p>","protected":false},"excerpt":{"rendered":" Ethereum has been hovering near the $1,900 level after climbing almost 9% over the past month, but it is still far below its previous all-time high. New data suggests the crypto asset is building a strong long-term setup, as technical signals and institutional demand continue to support the broader outlook. Multiple Bullish Signals Analyst Crypto […]<\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-210249","post","type-post","status-publish","format-standard","hentry","category-discovery"],"_links":{"self":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/210249"}],"collection":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=210249"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/210249\/revisions"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=210249"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=210249"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=210249"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}Strong Treasury Demand<\/h2>\n