Ethereum’s Path to $8,500: Decoding the Bull Run Mechanics
Ethereum isn't just rallying—it's rewriting the rules. Here's how the smart money's playing it.
Fueling the Fire: Network Upgrades and Institutional Demand
The Merge's legacy keeps giving. With staking yields outperforming traditional bonds and institutional wallets loading up, ETH's supply crunch looks inevitable. Even Wall Street's latecomers are scrambling for exposure—though they'll probably call it 'Web3 infrastructure' to justify their FOMO.
Defi's Silent Takeover
While CNBC obsesses over spot ETFs, Ethereum's real action happens off-exchange. TVL in liquid restaking protocols just hit another ATH, creating reflexive buying pressure that could turn $8,500 into a pitstop rather than a destination.
The Cynic's Corner
Let's face it—if ETH actually moons, your broker will find a way to sell you a 3x leveraged ETN with 5% management fees. Happy trading.
The Mechanics Of Ethereum’s Current Bull Run
Ethereum’s price action in the past few days has been very notable in terms of bullishness. The leading altcoin is currently up by 20% and 45% in the past 24 hours and seven days, respectively. This powerful upswing has pushed ethereum to its highest price point since the peaks of the 2021 bull market.
According to the technical analysis in question, which was initially shared by melikatrader94 on the TradingView platform, Ethereum is now playing out the last phase of an RABF pattern that has dragged on for many months. This RABF pattern is characterized by a horizontal resistance zone, now situated between $4,200 and $4,300, and a downward-sloping support trendline, which indicates that buyers are becoming increasingly aggressive with each pullback to reach the resistance again.
The last time Ethereum bounced off this support trendline was in early April 2025, when it reached a low of $1,470. Since then, it has increased by about 194% up until the time of writing, where it is now attempting to break above the upper trendline.
Price Target And What Needs To Happen
According to the measured MOVE principle, the breakout target is derived from the pattern’s vertical height, which is roughly $2,070. Adding this vertical height to the breakout level at $4,300 results in an initial price objective of $6,370. However, a strong bullish momentum beyond that milestone would see Ethereum extend its rally to as high as $8,500.
Such an outcome would depend on if Ethereum can make a decisive daily close above $4,300 accompanied by robust trading volume. According to the analyst, this would set off a rapid advance with only a brief consolidation NEAR the $5,100 mark before resuming its upward move.
On the other hand, support levels to watch are at $3,700, then $3,200 in case Ethereum fails to hold above $4,300 and extend its rally. At the time of writing, Ethereum is trading at $4,320, up by 1.1% in the past 24 hours. Interestingly, this move has seen Ethereum outperforming other top cryptocurrencies like Bitcoin, XRP, and Solana, which are down by 2.2%, 3.5%, and 4% in the past 24 hours.
