Source: Cointelegraph
Original: “Several Reasons Why Ethereum (ETH) Price Will Break $2000 Next”
Key Points:
The price of Ethereum surged to a new range high of $1860 on April 28, marking the highest value since April 2.
Multiple analysts believe that the ETH price needs to stay above $1800 to increase the chances of further upward movement.
Trader Kiran Gadakh stated in a post on the X platform on April 29: “Once ETH confirms a four-hour close above the resistance level ($1,800), ETH and other altcoins will finally welcome their moment of glory.”
Analyst Nebraskangooner suggested that if ETH faces high trading volume rejection at the $1800 level, it may pull back to test the support level around $1600.
Several data indicators suggest that Ethereum is likely to break $2000 in the coming days or weeks.
One factor supporting the bullish trend for Ethereum is the recovering institutional demand, reflected in significant inflows into spot Ethereum exchange-traded funds (ETFs).
On April 28, the total net inflow into Ethereum ETFs reached $64.1 million. This was part of a total inflow of $151.7 million for the week ending April 25, marking the highest level since February 2025.
According to a report by CoinShares, last week saw a net inflow of $183 million into Ethereum investment products, ending eight consecutive weeks of outflows and further boosting institutional demand.
This trend reflects the growing confidence of traditional financial participants, as market analysts like CoinShares research director James Butterfill noted:
“We believe that investors are turning to digital assets due to concerns about the impact of tariffs on corporate profits and the sharp devaluation of the dollar, with these assets seen as an emerging safe haven.”
Institutional purchases continue to exert upward pressure on Ethereum prices by absorbing available supply.
According to DefiLlama, Ethereum remains the undisputed top Layer-1 blockchain, with a total locked value (TVL) on the network exceeding $51.8 billion. The chart below shows that Ethereum's TVL has grown by approximately 16% over the past seven days.
Aave has performed particularly well in Ethereum deposits, with its TVL rising by 13.5% in seven days. Other notable growing projects include Lido (12%), EigenLayer (13%), and Ether.fi (12%).
Compared to other top networks, Ethereum's TVL growth in daily and weekly time frames far exceeds its competitors, except for SUI, which saw a 47% increase in TVL over the past seven days.
Ethereum's daily DEX trading volume increased by over 30% in the past week, reaching $1.65 billion. However, this figure is significantly lower than the 78% and 44% increases seen in SUI and Solana, respectively.
Despite facing rejection at $1860, the ETH/USD trading pair still has a good chance of regaining upward momentum, as the charts display a classic bullish pattern.
Ethereum's price action over the past week has formed a bull flag pattern on the four-hour chart. On April 29, the four-hour candlestick closed above the flag boundary at $1800, indicating the start of an upward trend.
The height of the flagpole sets a target, with Ethereum's price expected to rise to $2100, representing an approximately 15% increase from the current price.
Another bullish indicator is the relative strength index (RSI), which is currently moving in the positive zone at 60, suggesting that market conditions remain favorable for upward movement.
As reported by Cointelegraph, increased demand from the $1700 region (20-day simple moving average) should provide a solid foundation for ETH prices to reach the $2110 level, potentially touching $2500 in the end.
Related: MEGA '25: How Trump Will "Make Ethereum (ETH) Great Again" in 2025
This article does not contain investment advice or recommendations. Every investment and trading activity involves risk, and readers should conduct their own research when making decisions.
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