Ethereum Price Could Rally to $8,500 If This ETH Resistance Breaks

2 hours ago by · 3 mins read

Ethereum price jumped past $4,700, with analysts suggesting a potential breakout above the key $4,811 level could trigger a rally toward $8,500.

Ethereum ETH $4 625 24h volatility: 0.6% Market cap: $557.97 B Vol. 24h: $42.70 B price has been showing strength recently, shooting past $4,700 and eyeing a rally to fresh all-time highs. Market analysts believe that ETH is approaching a crucial resistance, breaking past which could set the stage for a rally to $8,500 and above. Additionally, the inflows into spot Ethereum ETFs could aid the rally further from here.

Ethereum Price Could See Another 90% Upside

Crypto analyst Javon Marks suggested that Ethereum (ETH) may be entering its next bullish phase, eyeing a potential breakout above the key resistance level of $4,811.71. Marks noted that a successful move past this threshold could open the door for a rally toward the $8,500 zone.

Other crypto market analysts also shared a similar outlook for Ethereum price. Crypto analyst Michael van de Poppe stated that Ethereum appears to be bottoming out against Bitcoin BTC $123 004 24h volatility: 1.5% Market cap: $2.45 T Vol. 24h: $68.48 B . This clearly signals a potential shift in market momentum.

He noted that ETH outperformed BTC on the previous day, which triggered a broader rally across altcoins. Van de Poppe added that this trend could accelerate in the coming period, projecting that altcoin returns could surge between 200% and 500% as capital rotation within the crypto market intensifies.

In the short term, Ethereum price might see some pullback as it faces stiff resistance at $7,450. ETH key support zone lies between $4,250 and $4,450, supported by strong buying interest in this range.

Ether ETF Inflows on the Rise

Over the past week, inflows into spot Ethereum ETFs have also surged, highlighting rising institutional demand. On Oct. 6, the inflows stood at $176 million, with BlackRock iShares Ethereum Trust (ETHA) contributing a majority at $92.6 million. This comes as asset manager Grayscale announced staking to its spot Ether ETFs: ETHE and ETH.

BlackRock’s iShares Ethereum Trust (ETHA) recorded strong activity on Oct. 6, registering net inflows of 18,959 ETH, valued at approximately $92.17 million. The fund also reported $2 billion in trading volume.

BlackRock Ether ETF Inflows | Source: Trader T

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