Ethereum (ETH) dropped over 6% up to now 24 hours, sliding to round $3,630 after briefly touching the $3,800 mark.
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The pullback comes after a sturdy July rally, which noticed the world’s second-largest cryptocurrency surge greater than 50%, its greatest month-to-month acquire in three years.
Despite the current dip, on-chain knowledge suggests the uptrend might not be over. Glassnode’s newest evaluation factors to a possible new all-time excessive (ATH) of $4,900, fueled by bullish investor sentiment, rising ETF inflows, and rising open curiosity (OI) in futures markets.
Glassnode Points to a $4,900 Ethereum Target
According to Glassnode, Ethereum is buying and selling close to its March 2024 ranges, but unrealized income stay comparatively decrease. This divergence implies a big upside potential as buyers usually are not but cashing out, signaling confidence in additional good points.
The agency’s evaluation reveals that if unrealized income attain the identical ranges as in 2024, ETH would possible climb towards $4,900, marking a brand new ATH and testing the vital psychological resistance at $5,000.
This might replicate a rising shift in how buyers deal with Ethereum, from a speculative token to a core monetary asset.
ETH's value data a small decline on the day by day chart. Source: ETHUSD on Tradingview
Open Interest and ETF Demand Reinforce Bullish Outlook
Rising open curiosity additional helps Ethereum’s bullish case. Crypto futures knowledge signifies that extra merchants are opening lengthy positions on ETH, reflecting expectations of additional upside. Ethereum’s OI has been a key contributor to the broader altcoin market rebound.
Moreover, spot Ethereum ETFs, particularly BlackRock’s iShares Ethereum ETF, noticed over $4 billion in inflows in July 2025, pushing complete ETH ETF holdings to $21.85 billion. The surge underscores Ethereum’s rising standing amongst institutional buyers and should amplify future value actions.
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With Ethereum going through resistance at $4,000, the convergence of robust technicals, investor optimism, and institutional demand paints a promising outlook. If momentum continues, ETH could quickly chart new territory above its earlier highs.
Cover picture from ChatGPT, ETHUSD chart from Tradingview
