Ethereum’s $5,000 Path? ETH Reclaims a Key Level as Institutions Keep Accumulating

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 Patel said 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.

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.

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 that similar golden cross signals in the past were followed by major rallies.

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