Ethereum Breaks $4,100 Resistance, Indicating Potential Bullish Trend Toward $7,200 Amid Rising Institutional Demand

Key Points

1. Ethereum's weekly chart shows a breakout from a broadening wedge pattern, suggesting strong bullish momentum with a potential target of $7,200 by 2025.

2. On-chain data and volume surge indicate an accumulation phase, reflecting increased buyer interest and reduced selling pressure.

3. Institutional demand for Ethereum has risen sharply, with U.S. spot ETH ETFs recording $727 million in inflows in a single day in mid-July.

4. Elliott Wave analysis suggests potential price targets between $6,700 and $7,200 in the near to mid-term, with long-term prospects possibly reaching $10,000.

5. The growth of Layer 2 solutions like Arbitrum and Optimism is enhancing Ethereum's market position and network activity.