Ethereum Price Eyes $7,000 as BlackRock ETHA Surpasses $1 Billion in Accumulation

Ethereum's price continues to show signs of bullish momentum, despite a short-term pullback. According to Crypto Patel, Ethereum's rally is approaching a critical long-term trendline resistance at $2,600.

The recent accumulation by BlackRock ETHA has been significant, with over $1 billion in purchases made over the last nine days. This institutional demand supports further upside and a potential broader long-term rally.

A pullback to the $2,000-$1,800 level is likely following the impressive gains from the accumulation area. However, continued buying pressure will see the technical setup targeting gains towards $5,000-$7,000.