Ethereum Could See Ascending Triangle Breakout Targeting Around $16,700 Amid Rising Institutional Demand
Main Idea
Ethereum is showing a potential ascending triangle breakout pattern with a price target near $16,700, driven by strong technical indicators and significant institutional inflows into Spot Ether ETFs.
Key Points
1. Ethereum's ascending triangle pattern suggests a breakout above $4,000 could lead to a price target of $16,700, a 350% increase from current levels.
2. Spot Ether ETFs have recorded 18 consecutive days of net inflows, totaling over $5.3 billion since early July 2025, reflecting strong institutional demand.
3. Technical indicators like the MACD on Ethereum’s monthly chart show bullish momentum, with historical precedents suggesting potential gains of up to 2,000%.
4. Institutional accumulation, including corporate treasury adoptions like SharpLink Gaming’s acquisition of 438,000 ETH, is creating a supply-demand imbalance.
5. Analysts predict Ethereum’s breakout could spark a new altseason, with price targets ranging from $7,709 to $30,000 based on recent trends and technical patterns.
Description
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