According to a recent CoinDesk report, the price of Ether (ETH) hovered near $3,800 on Thursday as bullish price targets circulated on social media. One analyst, known as “Edward” on Twitter, outlined a case for a $16,000 price target based on long-term technical setups and sustained institutional inflows.
In a post on Thursday, Edward argued that a five-digit price for Ether is now within reach, pointing to a “clean ascending triangle” formation on the monthly ETH chart. This pattern, which is often seen as a pre-breakout setup, is similar to the technical conditions observed in 2020 before Ether’s 2,000% rally.
According to Edward, a decisive breakout above $4,000 could trigger a similar move, with the triangle’s projected range suggesting potential upside towards the $15,000-$16,000 zone. He stated, “The structure is there. Demand is rising. Supply is capped,” and noted that momentum and fundamentals are aligning for the first time in years.
The analyst highlighted three main drivers behind this bullish outlook: institutional accumulation, the success of Ether ETFs, and the cryptocurrency’s emerging role as financial infrastructure. He noted that volatility in ETH has decreased despite increasing inflows, indicating that long-term investors are quietly building their positions. He added, “This is not a retail-driven mania; it’s a long-term institutional buildup. Quiet, sustained, and methodical.”
Edward also pointed to a surge in spot ETH ETF flows, which have totaled over $5.3 billion in the past 18 consecutive trading days since early July. With Ether’s limited annual issuance and corporate treasuries also accumulating, he warned of a potential supply shortage.
Finally, Edward emphasized that Ethereum’s function as programmable collateral, enabled by restaking, Layer 2 solutions, and real-world asset integrations, has positioned Ether as a crucial part of the “financial core” of a multi-chain economy. He stated, “Price targets like $15K are based on a changing macro role.”
However, some analysts caution that Ether may face resistance before a long-term breakout can occur. Michaël van de Poppe noted that volatility has sharply decreased in recent sessions, which often precedes local tops. He suggested that Ether could encounter short-term resistance near $4,000 before entering a modest corrective phase. Nevertheless, he believes that this pullback would be a healthy pause in what he sees as the beginning of a broader altcoin bull cycle that could unfold over the next 12 to 24 months.
At the time of writing, Ether is trading at around $3,800, up 1.01% in the past 24 hours, according to CoinDesk data. According to CoinDesk Research’s technical analysis data model, ETH gained 1.01% in the 24-hour period ending July 31 at 12:00 UTC, rising from $3,762.87 to $3,800.85. The trading range stretched 4.87%, from an intraday low of $3,693.42 to a high of $3,873.39. The price experienced a sharp V-shaped recovery after a high-volume dip to $3,685.69 between 18:00 and 19:00, according to SEO standards.
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