Ether (ETH) hovered for nearly $3,800 on Thursday as an increasingly bullish price target is circulating on Crypto social media, including one analyst who outlined a $16,000 lawsuit based on long-term technology setups and sustained institutional influx.
X’s popular chart analyst, “Edward,” claimed in a post on Thursday that five-digit ether prices are within reach, pointing to a “clean rising triangle” formation on his monthly ETH chart. This structure is generally considered a pre-breakout pattern and reflects the technical conditions observed in 2020.
In Edward’s view, a critical breakout above $4,000 can cause similar movements, with the predicted vertical range of the triangle meaning a potential range heading into the $15,000-$16,000 zone. “The structure is there. Demand is rising. Supply is closing,” he wrote, noting that momentum and basics appear to be in harmony for the first time in years.
He noted that three key drivers will promote the outlook. It is the accumulation by institutions, the continued success of Ether ETFs, and the new role of cryptocurrency as a financial infrastructure. Edward said ETH volatility declined even with rising inflows. It is clear that long-term investors are quietly building their positions. “This is not a retail-driven maniac. It’s an organized accumulation of a long tail. It’s quiet, sustained and systematic,” he said.
Edward also cited a surge in ETH ETF flows, totaling over $5.3 billion over 18 consecutive trading days since early July. It warned about the coming supply squeeze as the issuance of ether, closing down to less than a million tokens a year, and the company’s finances are also accumulated.
Finally, Edward emphasized that Ethereum’s function as a function, with replenishment, layer 2, and real-world asset integration, positions ether as part of the “financial core” of a multi-chain economy. “Price targets such as $15K are based on changes in the role of macros,” he said.
Some analysts warn that ether could encounter resistance before a long-term breakout takes hold.
Michael Van de Poppe noted that volatility has declined sharply in recent sessions. He suggested that ether could face short-term resistance near the $4,000 level before entering the modest corrective phase. However, he has assembled such a pullback as a healthy pause for what he believes is the beginning of the wider Altcoin Bull Cycle that could unfold in the next 12-24 months.
At the time of writing, Ether has traded at around $3,800, an increase of 1.01% over the past 24 hours, according to Coindesk data.
Technical Analysis Highlights
- According to Coindesk Research’s technical analytics data model, ETH increased 1.01% in the 24 hours, ending at 12:00 UTC on July 31, from $3,762.87 to $3,800.85.
- The trading range grew 4.87% from an intraday low of $3,693.42 to $3,873.39.
- A sharp V-shaped recovery followed $3,685.69 from a massive amount of DIP between 18:00–19:00 UTC windows, signalling the institutional purchase.
- ETH closed the nearly $3,800 day, suggesting a volume-supported bounce accumulation at $3,825.
- Last-Time Trading (11:36–12:35 UTC) showed a disciplined integration with price action between $3,825.22 and $3,842.71.
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