Ethereum's native cryptocurrency, Ether (ETH), reached a significant milestone on April 28, climbing to $1860. This marked its highest value since April 2, signaling a potential shift in market dynamics. Analysts are now closely monitoring key resistance and support levels, with many suggesting that maintaining above $1800 could pave the way for further gains.
Key Factors Driving Ethereum's Momentum
Technical Breakout and Analyst Perspectives
Trading experts have highlighted the importance of the $1800 threshold. As trader Kiran Gadakh noted in a social media post on April 29, a confirmed four-hour close above this resistance level could trigger a substantial rally for ETH and other altcoins. However, not all perspectives are uniformly optimistic. Analyst Nebraskangooner cautioned that if Ethereum faces high-volume rejection at $1800, a retracement to the $1600 support zone is possible.
Despite short-term uncertainties, multiple data indicators suggest an upward trajectory is likely. Technical chart patterns, including a bullish flag formation on the four-hour timeframe, point to potential growth. The pattern’s measured move target projects a rise toward $2100, representing an approximate 15% increase from current levels.
Moreover, the Relative Strength Index (RSI) remains in a positive zone around 60, indicating favorable market conditions without being overbought. This technical strength, combined with growing demand near the $1700 level—coinciding with the 20-day simple moving average—provides a solid foundation for upward movement.
Institutional Demand and ETF Inflows
A major catalyst behind Ethereum’s bullish momentum is the resurgence of institutional interest. This is particularly evident in the inflows into spot Ethereum exchange-traded funds (ETFs). On April 28 alone, these products saw net inflows of $64.1 million. This surge is part of a broader trend: during the week ending April 25, total inflows reached $151.7 million, the highest since February 2025.
According to a CoinShares report, Ethereum investment products attracted $183 million in net inflows over the past week, ending an eight-week streak of outflows. James Butterfill, Head of Research at CoinShares, attributed this shift to growing investor confidence in digital assets as emerging safe havens. He noted concerns about tariffs impacting corporate profits and a rapidly depreciating US dollar as key drivers.
This institutional buying absorbs available supply, creating sustained upward pressure on Ethereum’s price.
Network Strength and DeFi Ecosystem
Ethereum continues to dominate as the leading Layer-1 blockchain by total value locked (TVL). Data from DefiLlama shows the network’s TVL exceeding $51.8 billion, with a 16% increase over the past seven days. This growth underscores robust activity and confidence in the ecosystem.
Several key protocols within Ethereum’s DeFi landscape showed notable expansion:
- Aave recorded a 13.5% rise in TVL.
- Lido and EigenLayer each grew by 12% and 13%, respectively.
- Ether.fi also saw a 12% increase.
While other networks like SUI posted higher percentage gains (47% weekly TVL growth), Ethereum’s absolute dominance remains unchallenged. Additionally, daily decentralized exchange (DEX) volume on Ethereum increased by over 30% to $1.65 billion, though this was outpaced by SUI and Solana, which saw 78% and 44% growth, respectively.
Price Targets and Future Projections
Given the combination of technical patterns, institutional inflows, and network activity, analysts are optimistic about Ethereum’s short- to mid-term prospects. A successful breakout above $1860 could initiate a move toward $2110, with some experts suggesting a potential rally to $2500 under favorable conditions.
The convergence of these factors—growing institutional adoption, a resilient DeFi ecosystem, and positive technical indicators—paints a compelling picture for Ethereum’s journey toward and beyond $2000.
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Frequently Asked Questions
What is the significance of the $1800 level for Ethereum?
The $1800 level acts as a key resistance point. A sustained break above it could signal continued upward momentum, while rejection might lead to a test of lower support levels near $1600.
How do Ethereum ETFs influence its price?
ETF inflows represent institutional demand. Significant inflows reduce available supply and create buying pressure, which often supports higher prices.
What role does TVL play in Ethereum’s valuation?
Total Value Locked reflects the amount of capital deployed within Ethereum’s DeFi ecosystem. Rising TVL indicates growing usage and confidence, which can positively impact ETH’s value.
Which technical indicators support a bullish outlook for Ethereum?
The bullish flag pattern and RSI readings above 50 are positive signs. Additionally, the 20-day moving average near $1700 provides dynamic support.
Could macroeconomic factors affect Ethereum’s price?
Yes, factors like monetary policy, currency fluctuations, and geopolitical events can influence investor sentiment toward digital assets like Ethereum.
What are the short-term price targets for ETH?
Based on current patterns, short-term targets include $2100–$2110. A broader rally could potentially push prices toward $2500 if momentum sustains.