ETH pushed to $1,942.56 on Monday, up 4.2% in 24 hours and 8.8% over the past week, as a combination of spot ETF inflows and improving technicals lifted the second-largest cryptocurrency back toward a level it last held comfortably months ago.
BlackRock's ETHA fund has been among the vehicles drawing fresh institutional capital into Ethereum, contributing to a broader uptick in spot ETF demand across US markets. That institutional bid has run in parallel with price action that looks notably cleaner than it did earlier this year.
Technicals turning constructive
ETH has crossed above both its 20-day and 50-day exponential moving averages, a shift that typically signals short-term momentum has switched hands from sellers to buyers. The RSI is sitting close to 70. That reading reflects strong buying pressure, though it also means traders will be watching for choppiness if the rally tries to push harder through resistance.
The immediate ceiling runs from $1,950 to $2,150. A clean weekly close above that band would do a lot to confirm the recovery is structural rather than a relief bounce. Beyond it, analysts have flagged $2,501, $2,970, and $3,349 as the next meaningful levels to clear before Ethereum could start threatening its all-time high of $4,946.05, set in August 2025.
According to crypto analyst Javon Marks, ETH has also broken above a long-standing descending trendline that had capped rallies for months. As Marks put it, the coin is currently in what he believes could be its largest accumulation phase ever, and he is targeting levels of $5,000, $8,500, and eventually $12,000 if buyers hold the ground they have reclaimed.
Over the past month ETH is up 12.3%, and two-week gains stand at 9.7%, suggesting the recovery has been building steadily rather than arriving in a single spike. Whether $2,000 gives way or acts as a hard ceiling in the near term will likely depend on whether ETF inflows stay consistent into the back half of the week.
This article is for informational purposes only and does not constitute financial advice. Always do your own research before making any investment decisions.
