Ethereum Targets $2K as Spot ETFs Defy Market Skepticism
ETH bulls charge forward—ignoring the usual ’institutional caution’ narrative—as spot ETF flows surprise skeptics. Wall Street’s favorite ’risk indicator’ flashes amber, but crypto’s second-largest asset isn’t listening.
Key drivers? Institutional accumulation patterns mirror Bitcoin’s 2020 breakout, while staking yields quietly offset exchange sell pressure. The $2K psychological barrier now looks more like a pit stop than a ceiling.
Bonus cynicism: TradFi analysts still can’t decide if crypto ETFs are ’fraudulent’ or ’the future’—but they’ll keep collecting fees either way.
Ethereum price technical analysis
The daily chart shows that the ETH price has rebounded in the past few days. It has jumped and crossed the upper side of the falling wedge chart pattern, a popular bullish reversal sign.
The coin has moved slightly above the 50-day weighted moving average and formed a small bullish flag pattern, a popular bullish continuation sign in the market.
Therefore, the coin will likely continue rising as bulls target the psychological point at $2,000. A complete bullish breakout will be confirmed if the coin jumps above the key resistance at $2,120, the neckline of the triple-bottom pattern that formed on the weekly chart.
