Here’s why some Ethereum traders expect ETH price to hit $16K this cycle

Key Points

1. Ether’s ascending triangle pattern suggests a potential price target of $16,700, with $4,000 as a key resistance level to break.

2. ETH price has risen over 300% since its June 2022 low of $880, with analysts highlighting bullish signals like the MACD indicator crossover.

3. Spot Ether ETFs have seen 18 consecutive days of inflows, totaling over $5.3 billion, contributing to a cumulative net inflow of $9.6 billion since July 2024.

4. Institutional demand is growing, with companies like SharpLink Gaming acquiring large amounts of ETH, creating a potential supply-demand imbalance.

5. Analysts emphasize that Ethereum’s fundamentals, ETF inflows, and corporate adoption support a strong bullish outlook for ETH’s price trajectory.