The price of ethereum, or 1 ETH, traded at $2,630.03, as of 8 a.m. ET. The highest intraday price that ethereum reached in the past year was $4,088.00 on March 12, 2024. *The return comparisons are as of 8 a.m. ET.

The rising demand for Ethereum, as shown by notable cash inflows to US spot Ether ETFs, is a major boost for bullish outlook.

ETH forms a bullish triangle, signaling a potential breakout. The price target is set at $3,500 for the next rally. Breaking the $2,620 resistance confirms

Ethereum price broke above the daily resistance level at $2,461 and rallied 6.5%, closing well above its 50-day Exponential Moving Average (EMA) at $2,544 on Monday. After such a rally, ETH declined to test the 50-day EMA at $2,544 and bounced off on Tuesday. At the time of writing on Friday, it is trading slightly up at around $2,600.

Ethereum launched in 2015 and is the most popular altcoin. Along with bitcoin, it has become one of the most recognizable forms of cryptocurrency. The chart pulls data as of 8 a.m. ET daily and doesn’t display intraday highs or lows.

While Ethereum has faced challenges, investors should remain confident that its long-term growth and innovation will prevail over short-term hurdles.

This market setup suggests buyers are stepping in, and Ethereum might witness more uptrends in the coming days. So, what's next for ETH?