- Ethereum price approaches $3,900 as its bull run mirrors the Dow’s bullish pattern from the 1980s.
- Targets $7,150 if ETH breaks the current ascending pattern.
- Ethereum recorded $2.12 billion in ETH inflows, signaling strong institutional demand.
Ethereum (ETH) is attracting attention as its price pushes toward the $3,900 level, driven by technical patterns that echo a historic stock-market rally.
Ethereum’s bullish momentum has drawn comparisons to the explosive performance of the Dow Jones in the 1980s, with analysts suggesting ETH may be entering the final phase of a long-term uptrend.
Ethereum follows a historical roadmap
Market analyst Gert van Lagen says Ethereum is tracing an expanding diagonal from technical textbooks—also called a megaphone pattern—nearly identical to a bullish formation seen in the Dow Jones Industrial Average more than four decades ago.
This technical setup has been in place since mid-2022 and helped fuel a major rally of roughly 245% from November 2022 through February 2024.
Now, Ethereum appears to be in the final stretch of that structure, setting the stage for a potential surge toward the pattern’s upper boundary near $8,000.
Van Lagen ties this bullish structure to Elliott Wave Theory, identifying Ethereum’s current position as the fifth and final wave—often described as a “blow-off top,” where prices can spike rapidly before a trend reversal.
#Ethereum is poised to complete its 2019–2025 Bull Market with a textbook Expanding Diagonal as Wave v.
Each subwave within this structure is corrective. The current and final wave up is expected to break out of the Wave 3–4 megaphone pattern, completing Wave a, followed by a… pic.twitter.com/wvwAQbwXAy
— Gert van Lagen (@GertvanLagen) July 19, 2025
Triangle breakout could open new highs for ETH
Ethereum’s charts also show another bullish signal: an ascending triangle, typically a continuation pattern that precedes significant upward moves.
The token is currently consolidating between $3,900 and $4,150, a zone analysts view as critical resistance.
If Ethereum (ETH) can break above this range, the measured move from the triangle points to a potential target around $7,150—about an 80% gain from current levels.
Such a technical breakout could serve as strong confirmation that the final portion of Ethereum’s megaphone pattern is underway, offering swing traders and institutional players a meaningful upside opportunity.
Institutional capital floods into Ethereum
Adding fuel to the rally, Ethereum just recorded a record week of institutional inflows, with $2.12 billion pouring into ETH investment products, according to net inflow data for spot Ethereum ETFs.
That figure nearly doubles the token’s previous weekly inflows and reflects surging interest from hedge funds, asset managers, and ETF providers.
Through 2025 so far, Ethereum has attracted more than $6.2 billion in capital—already surpassing the total for all of 2024.
Over the past 13 weeks, these inflows have accounted for 23% of Ethereum’s total assets under management—a strong signal that institutions are increasing exposure.
Although Bitcoin still led overall inflows this week with $2.2 billion, Ethereum’s momentum stands out, particularly as exchange-traded product (ETP) volume for ETH now represents more than half of Bitcoin’s trading volume.
These figures indicate institutions are not only accumulating ETH but may be positioning it as a core asset for the next phase of crypto adoption.
Macro tailwinds strengthen ETH price outlook
On the macro side, expected interest-rate cuts from the Federal Reserve and recent approvals of ether-based ETFs have created a favorable environment for Ethereum to advance.
These developments can reduce downside risk and help sustain the current rally, especially if capital continues rotating from traditional assets into digital ones.
Investor confidence is also rising as Ethereum regains its long-term uptrend line, reinforcing the view that the rally is technically healthy.
Some projections suggest ETH could reach as high as $10,000 under the right conditions, particularly if institutional inflows accelerate further.
In the near term, previous price forecasts point to the $4,150 resistance zone as the next key level for ETH.