Crypto analyst Van de Poppe sees the strong rights to buy back in the replayed support zone.
Ethereum bounces off key support and is aiming for $2,100 in the coming weeks.
Fidelity’s Ethereum ETF sees a $17.9 million spill, raising short-term liquidity concerns.
Despite the ETF spill, Ethereum has traded at $1,831 with a recent price rise of 3.34%.
Ethereum, the second largest cryptocurrency by market capitalization, began to rise after a long-term, stable price. Popular cryptography expert Michael Van de Poppe believes Ethereum has shown signs of recovery and could reach $2,100 in the coming weeks.
But what’s behind this forecast, especially if Ethereum’s ETF saw a $17.9 million spill today? Let’s break it down.
Ethereum is strong, with eyes having a $2,100 target
According to Van de Poppe, recent bounces from the $1,740-$1,837 range are more than just a rise, a powerful bullish signal. The area was previously supported, but after dropping down in April, ETH regained it.
$eth has hadrong beyond a critical level and begins to bounce upwards.
I think we’re about to witness a big breakout to $2,100 over the next week or two. pic.twitter.com/p10vyv6uex
– Michael Van de Poppe (@cryptomichnl) May 7, 2025
This means that buyers are once again interested and can increase the price.
The chart also shows the next target, around $2,105. If ETH can hold current levels and break past resistance, this target could be hit in the next 1-2 weeks.
This price level is not random, but the place where Ethereum last faced great resistance, and a clean break above it could mark the beginning of a wider gathering. And if the ETH breaks, the price could rise even further.
ETH trading activities will be slower
At the same time, trading activities at Ethereum are slowing down, which may help. Recent data from Cryptoquant shows a bubble of smaller, lighter trading volumes, meaning fewer big deals and fewer sudden movements.
Crypto analyst DarkFost says the slowdown could make the market more stable. If there are fewer deals during a price drop, it helps ease the pressure and give buyers and sellers more time to think about.
ETH Spot Volume is cooled
“The spot volume on Ethereum is cooled, and that may actually be a good sign… This could also ease the weight sales pressure in the market.” – @darkfost_coc pic.twitter.com/xvxqt5olry
– cryptoquant.com (@cryptoquant_com) May 6, 2025
Together, these signs suggest that Ethereum may be finding its strength again.
$17.9 million Ethereum ETF leak
Despite some bullish signals, Farside investors reported a notable $17.9 million outflow from the Ethereum ETF on May 6, 2025. The entire spill came from the fidelity Ethereum ETF (FETH), while other major ETFs showed no change. As a result, this could put short-term pressure on ETH prices and affect the overall liquidity of the cryptocurrency sector.
Currently, Ethereum prices are trading at around $1,831, reflecting the 3.34% seen in the last 24 hours, with market capitalization seen in the last 24 hours.