Ethereum Bulls Eye $5,000 as Institutions Drive Accumulation

Ethereum (ETH) has been steadily climbing over the past month, increasing by almost 9% to hover near $1,900. However, new data suggests that the cryptocurrency is building a strong long-term setup, thanks to technical signals and institutional demand.

Crypto analyst Crypto Patel noted that Ethereum's high-timeframe bullish structure remains valid as long as it records daily closes above $1,510. According to Patel, this structure could lead to upside targets of $2,400, $3,000, $3,600, $4,200, and $5,000.

Ali Martinez pointed out that the MVRV Momentum golden cross is another bullish signal, which has historically been followed by major rallies. Michaël van de Poppe also sees more upside for Ethereum, predicting a breakout to the $2,300-$2,500 range.

In addition to technical signals, institutional participation in the market continues to grow. Corporate treasuries have overtaken exchange-traded funds (ETFs) as the biggest buyers of Ethereum, with nearly 11% of the asset's total supply already locked by ETFs and digital asset treasury (DAT) companies.