Ethereum to $5140? Analyst Names Two Scenarios for ETH Price Target

Key Points

1. Ethereum is currently trading at $3,749 after reaching a high of $3,941 on July 28, with analysts viewing the pullback as consolidation before the next major move.

2. Analyst Ali identifies $3,300 as a crucial support level; if it holds, ETH could rise to $4,220 and potentially $5,140, according to the MVRV Pricing Bands metric.

3. Glassnode's ETH +1σ Active Realized Price band at $4,500 is a key upside threshold, historically serving as resistance and signaling market euphoria if breached.

4. Institutional interest in Ethereum is growing, with significant ETH accumulations by fresh wallets and BlackRock's Ethereum ETF (ETHA) holding over 3 million ETH worth $11.36 billion.

5. A whale referred to as '0x4352' withdrew 20,000 ETH worth $75.56 million, and another entity bought over 220,000 ETH at $840 million, indicating strong institutional activity.