Ethereum Updates: Positive Trends, Negative Outflows: Ethereum Approaches $4,700

Ethereum’s recent price movements have sparked a lively discussion among market observers, as technical charts, blockchain data, and institutional activity send mixed messages. The cryptocurrency is trading close to $3,900, forming what appears to be a Wyckoff re-accumulation pattern, but outflows from ETFs and negative on-chain trends have cast doubt on its short-term direction.

Ethereum has established a

near the $4,000 mark, which could indicate a move toward higher resistance points. This setup features stages like the Buying Climax, Secondary Test, and Selling Climax, with the Last Point of Support (LPS) found around $4,050. According to analyst Ash Crypto, if the current momentum holds, may reach between $8,000 and $10,000 during this cycle. Supporting this positive outlook, on-chain data shows Ethereum’s Total Value Locked (TVL) in DeFi has climbed past $85 billion, and daily decentralized exchange trading volume has reached $4.076 billion.

Yet, Ethereum is encountering strong resistance at $4,700, a barrier it has failed to overcome on three previous occasions. Analyst Kamran Asghar points out that while recent buying activity could push the price above this level, the outcome remains unpredictable.

Institutional engagement with Ethereum is currently mixed. JPMorgan has introduced a

enabling qualified clients to use Ethereum as collateral for loans, a notable move toward broader acceptance. At the same time, Ethereum ETFs have experienced a series of outflows totaling $244 million, in contrast to which have reached $446 million. Experts attribute this trend to Bitcoin’s reputation as a “safe-haven asset” during uncertain economic times, prompting institutions to shift funds toward Bitcoin, as highlighted in a .

Despite recent fluctuations, the long-term forecast for Ethereum remains positive. Projections see the price reaching $10,000 by 2028, bolstered by a

that points to Ethereum holding above a crucial upward trendline near $3,900. Analyst Ali Charts notes that Ethereum’s chart structure remains robust, with a pattern of higher lows since its 2024 bottom at $1,850. However, a temporary drop to $2,000 is anticipated before a stronger recovery begins in the second half of 2026.

Optimism is tempered by negative on-chain signals. Ethereum’s MVRV Momentum has recently shown a

, a formation that has historically preceded significant declines, such as the 2025 fall from $3,300 to $1,400. Additionally, spot ETF redemptions—most notably BlackRock’s ETHA with $117.8 million withdrawn—reflect investor wariness. Although Ethereum is still trading above its realized price of $2,300, analysts mention in a that further upward movement will likely require new capital inflows rather than increased leverage.

Looking at the wider market, a cautious stance prevails. Bitcoin’s role as the primary liquidity magnet and the lack of major Ethereum-specific developments, such as significant network upgrades, have postponed a broader rally among alternative coins, as described in an

. Still, analysts like Ash Crypto expect a shift by late 2025, with anticipated interest rate cuts and a large number of pending altcoin ETF applications potentially reviving risk appetite, according to the analysis.

Ethereum’s short-term prospects depend on its ability to surpass $4,700 and maintain upward momentum. While strong on-chain fundamentals and growing institutional use offer a bullish backdrop, ETF outflows and negative technical patterns highlight ongoing market vulnerability. Investors remain split between confidence in Ethereum’s long-term potential and caution over near-term risks, with broader economic trends and regulatory decisions likely to influence the next stage of Ethereum’s evolution.