Ether’s (ETHA 33% increase from its multi-year, sub-$1,800-low appears to be cooling. However, several key metrics point out that the altcoin could be poised for even more of a rally towards $6,000 or above.
Takeaways from the conference:
- Ether’s current technical set-up is similar to the past cycles, which triggered a major rally in ETH.
- The potential for a supply squeeze is increasing as the exchange rate and accumulation increase.
- The return of institutional demand in the US is reflected by a rising Coinbase Premium.
Ether’s Fractal Targets $6,000 in ETH Price
Ether has been bouncing around a trendline that spans several years and historically marks macro-price bottoms. In April 2025, and in mid-2022 there were previous instances that resulted to 260% and 1300% price increases for ETH.
“$ETH is holding a long-term ascending trendline support,” CryptoJack said Additions to a post by X in a previous:
“Will history repeat itself?”
Weekly chart of ETH/USD. Source: Cointelegraph/TradingView
The price bottom was also confirmed by a bullish crossover from the Moving Average Convergence Divergence (MACD).
“$ETH weekly MACD bullish cross is now confirmed,” Analyst Ash Crypto said Additions to a post by X in a previous:
“The last 2 times this happened, ETH pumped 183% and 75%.”
The weekly RSI, however, is recovering from macro-lows that were marked in the past, and suggests Ether’s recent decline to $1.750 was a bottom.
Chart of the ETH/USD exchange rate for the week. The Moon Show
Ether’s price is currently following a pattern similar to that of Bitcoin. The price bounces off the same support structure, there’s a bullish MACD cross-over and the RSI has recovered from an oversold condition.
Ether could reach $3,000 to $6,300 if history is repeated.
The potential for ETH to be squeezed is rising
Ethereum’s On-Chain metrics show a tightening of supply dynamics, a situation that has caused significant ETH price increases in the past.
Binance ERC-20 Stablecoin Whale Activity Index reveals structural exhaustion.
In the chart below, the number daily accumulation addresses has increased from 2,334 to surpass the number exchange depositing address (wallets that are preparing to buy) which dropped to 2,300.
The shift in the market suggests that major players are moving from A “wait-and-see” CryptoQuant analyst GugaOnChain explains how to convert your accumulation into an active phase. said In a recent QuickTake Analysis.
“This scenario is extremely positive for the price structure, as it reveals that there are significantly fewer addresses sending ETH to the exchange with the intention to sell than players accumulating or positioned to absorb liquidity,” “The analyst stated, adding”
“The supply shock is fully underway.”
Binance ERC-20 whale activity index. Source: CryptoQuant
The increase is also evident in increased exchange outflows. According to a report by Glassnode data.
At the time this article was written on Thursday, there is a net position of -351 300 ETH (for 30 days).
Exchange Net Position Change. Glassnode Source
These outflows are typically indicative of strong accumulation by large holdersThe immediate selling pressure is reduced by those who invest in investments or move the tokens into cold storage.
The term “a” is used to describe this. “supply squeeze,” The conditions which historically have preceded sharp price increases, when coupled with improving market sentiment.
Demand for Ethereum is recovering
Cointelegraph reportedBinance’s Ether futures have reached a two-month high, as buyers aggressively entered the market in the last week. The volume of buy-taker transactions has risen above $5 billion and current conditions are bullish.
According to the Coinbase Premium Index, the US is responsible for a substantial share of that demand.
The ETH Coinbase Premium Index measures the difference in price between the ETH/USD pairs on Coinbase and Binance.
On April 14, this metric reached its highest point since October 2025, rising from -0.21 to 0.04. This index dropped to a low of -0.21 early in February, and now has recovered to 0.04.
This usually signals an increase in demand, especially from institutional investors on the US market.
Ethereum Coinbase’s Premium Index. Source: CryptoQuant
In the meantime, Ethereum spot ETFs recorded net inflows of $590,000,000 for 10 days straight. It is the longest streak of inflows since December 2024. This coincided with a 95% price rise in Q4 2020.
Spot Ethereum ETF flow table. Source: SoSoValue
Bitmine Immersion Technologies (the world’s largest Ether publicholder) increased its Ether stakes with a new purchase last week. 101,627 ETH purchaseETH demand has returned amongst institutional investors.
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Source: cointelegraph.com
