Is ETH brewing for the next big pump?

Since bouncing back more than double from the low of around $1,400 in April 2025 to $2,800, the ETH price has been consolidating for nearly eight weeks, with a fluctuation range of about $400. Although the summer market seems slightly quiet, the on-chain data, ETF fund flows, and macro narratives indicate that the market still holds great expectations for the long-term pump potential of ETH.

Spot Ethereum ETF has become the new focus of capital.

Recently, spot Ethereum ETFs have become a market hotspot. According to CoinShares data, over the past 11 weeks, global Ethereum investment products have attracted an average weekly inflow of approximately 1.6% AUM, significantly higher than Bitcoin’s 0.8%. Among them, BlackRock’s iShares Ethereum Trust (ETHA) absorbed over $510 million in funding within two weeks. This trend of capital inflow not only represents institutional recognition of ETH but also lays the foundation for a price breakthrough of $2,800. If this continues, it is expected to drive ETH towards new highs.

The rise of financial infrastructure narratives

Maria Shen (General Partner at Electric Capital) recently stated: “Ethereum is becoming the global financial backbone of the emerging digital dollar economy.” Currently, the market value of stablecoins has exceeded $260 billion, covering billions of users and businesses, and playing a key role especially in emerging markets where access to traditional banking systems is limited. The fundamental role of ETH also means that every stablecoin transaction, DeFi collateral, and cross-chain bridge may require ETH as gas or collateral, indirectly strengthening the demand flywheel for ETH and attracting more institutions to enter the market.

Target price of ETH

If ETH successfully breaks through the supply and demand zone above $2,800, it will likely challenge the next technical neckline at $3,400 and $4,100, further completing the V-shaped reversal since the end of 2024. From the current price of $2,600, if ETH returns to the historical high of $4,800, the rise will be about 92%. Once the V-shaped reversal is completed and breaks through the neckline, the bullish target will naturally aim for the psychological level of $5,000, which is not only a technical level but also a symbolic target resonating with the funding, narrative, and fundamentals.

Start trading ETH spot immediately:https://www.gate.com/trade/ETH_USDT

Summary

Despite ETH currently being in a consolidation range and showing slightly weak trading momentum, the medium to long-term potential of ETH to rise to $5,000 still exists based on exchange supply, institutional capital inflows, indicator data, and the global narrative. If capital inflows continue, supply continues to tighten, and the demand for stablecoins and DeFi continues to ferment, ETH is expected to welcome another wave of pump.