Strong backing for Ethereum at $4.4K: Could Ethereum be headed towards a $15K value?
Ethereum (ETH) continues to lead the way among L1s, with significant user activity and a substantial amount of value locked. As of press time, ETH is trading near $4,245.
One entity, Bitmine, has its sights set on acquiring a massive $25 billion in ETH, which represents nearly 5% of the total supply. If prices revisit previous levels, traders will be keen to see if the dip is defended again. At the moment, Bitmine controls over $73.2M in ETH across wallets.
Despite a recent price dip, Ethereum's flows remain positively active, indicating a buying opportunity rather than a reason to retreat. The MACD shows weakening bullish pressure, but the recent pullback found support near $4.4K, where investor activity spiked.
The increased institutional interest in Ethereum ETFs is a significant driver supporting bullish price predictions. Last week, Ethereum ETFs saw a record $241 million in net inflows, equivalent to approximately 649,000 ETH. Today's ETF flows will indicate whether this confidence in Ethereum continues or if the rally pauses for profit-taking.
Experts predict that Ethereum will continue its bullish momentum in 2025, with price forecasts ranging from about $2,900 to as high as $20,000 by the end of the year. One forecast puts Ethereum’s minimum price at around $2,906 in 2025, with a potential to break $5,000 and an average near $2,960. Other experts see ETH hitting between $5,000 and $10,000, driven by factors like major protocol upgrades and rising institutional demand.
Veteran analyst Arthur Hayes predicts an even more bullish outcome with ETH potentially reaching $20,000 during this cycle, citing strong chart momentum and recent price rallies. Another set of analysis anticipates ETH holding around $4,500 currently and moving up to $8,000 by year-end 2025, helped by increased institutional buying and recent SEC clarifications about staking services fostering adoption.
Some technical indicators suggest ETH may hit around $5,300 by the end of 2025, with $7,000-$8,000 plausible by 2026 and up to $14,000-$15,000 by 2030. These predictions are aided by market maturation and regulated clarity that could boost institutional inflows.
The price of Ethereum has cooled off from $4.74K to around $4.5K. The RSI has slipped to 57, just under the overbought zone, but this level now acts as a key support level. Ethereum remains a key cryptocurrency to watch. These inflows are the strongest since the launch of Ethereum ETFs, and according to Glassnode's cost basis heatmap, the current level saw strong buying interest.
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