The Ethereum market is demonstrating significant growth, currently priced at $4,760. This rise is primarily attributed to strong institutional demand and supply constraints due to ETF purchases.
Institutional Supply Crunch
This month, Ethereum ETFs have purchased 500,000 ETH, exceeding the 450,000 ETH issued since the Merge. Major asset managers like Fidelity and BlackRock collectively hold $22.68 billion in ETH.
Wall Street Turns Bullish
Investment bank Standard Chartered has raised its 2025 ETH price target to $7,500, reflecting a 58% upside from current levels. Additionally, progress on the CLARITY Act could provide regulatory clarity, facilitating greater institutional participation.
Technical Levels to Watch
Key support levels are noted at $4,348 (Fibonacci level). Short-term targets range from $4,784 to $5,288. The Relative Strength Index (RSI) at 79.93 indicates overbought conditions, but strong buying interest remains on dips.
With increasing institutional demand, Ethereum is emerging as an attractive asset in the cryptocurrency market. Continued investor interest may lead to further price increases, especially if current support levels hold.
