Ethereum (ETH) is showing renewed strength as the crypto market transitions from bearish to bullish. Over the last 24 hours, ETH has risen nearly 4%, signaling signs of recovery and potential for further upward movement.
Major altcoins have also started climbing, mirroring Bitcoin’s gains and contributing to positive market sentiment.
At the time of writing, ETH trades at $4,579 with a 24-hour trading volume of $50.87 billion and a market capitalization of $552.71 billion.
The rebound comes amid growing optimism among traders and investors who are closely watching the next leg of the rally.
BlackRock boosts institutional confidence in Ethereum
Institutional interest in Ethereum continues to grow, highlighted by BlackRock’s recent purchase of $314.9 million in ETH, according to Arkham data.
This investment signals strong confidence from one of the world’s largest asset managers. Institutional buying often acts as a catalyst for wider market optimism, reinforcing Ethereum’s credibility as a leading digital asset.
Ethereum set for $6,800–$7,000 surge
From a technical perspective, Ethereum recently broke a four-year bullish megaphone pattern and successfully retested it, confirming a solid foundation for upward movement.
Market insights suggest that ETH could target $6,800–$7,000 in the coming weeks if momentum holds.
Traders are noting that panic selling on minor dips is common after new all-time highs, but the current setup indicates sustained strength.
Combined with institutional backing and positive market sentiment, Ethereum appears well-positioned for the next rally phase.