- Ethereum price is nearing $3,900 as its bull run mirrors Dow’s 1980 bull pattern.
- Target at $7,150 if ETH price breaks out of the current ascending pattern.
- Ethereum has recorded $2.12B ETH inflows, signalling strong institutional demand.
Ethereum (ETH) is gaining attention as its price pushes closer to the $3,900 mark, fueled by technical patterns that echo a historic stock market rally.
Ethereum’s bullish momentum is drawing comparisons to the Dow Jones’ explosive run in the 1980s, as analysts suggest ETH may be entering the final phase of a long-term uptrend.
Ethereum follows a historic roadmap
According to market analyst Gert van Lagen, Ethereum is tracing a textbook expanding diagonal, also known as a broadening megaphone pattern, which is nearly identical to a bullish formation seen in the Dow Jones Industrial Average over four decades ago.
This technical setup has been in place since mid-2022 and has already powered a massive 245% rally from November 2022 to February 2024.
Now, Ethereum appears to be in the final stretch of this structure, setting the stage for a potential surge toward the upper boundary of the pattern near $8,000.
Van Lagen links this bullish structure to Elliott Wave Theory, identifying Ethereum’s current position as the fifth and final wave — a stage often described as the “blow-off top,” where prices can rise rapidly before a trend reversal.
#Ethereum is poised to complete its 2019–2025 Bull Market with a textbook Expanding Diagonal as Wave v.
Each subwave within this structure is corrective. The current and final wave up is expected to break out of the Wave 3–4 megaphone pattern, completing Wave a, followed by a… pic.twitter.com/wvwAQbwXAy
— Gert van Lagen (@GertvanLagen) July 19, 2025
Triangle breakout could unlock new highs for ETH price
Ethereum’s chart is also flashing another bullish signal in the form of an ascending triangle, which is typically a continuation pattern that forms ahead of significant upward moves.
The token is currently consolidating between $3,900 and $4,150, which analysts consider a critical resistance zone.
If Ethereum (ETH) manages to break through this level, the pattern’s measured move points to a potential target of $7,150 — an 80% increase from current prices.
This technical breakout could act as the first major confirmation that the final leg of Ethereum’s megaphone pattern is underway, offering swing traders and institutional players strong upside potential.
Institutional capital floods Ethereum
Adding fuel to the fire, Ethereum has just posted a record-breaking week for institutional inflows, with $2.12 billion pouring into ETH investment products according to Coinglass’ total Ethereum spot ETF net inflow data.
That figure nearly doubles the token’s previous weekly inflow high and reflects surging interest from hedge funds, asset managers, and ETF providers.
So far in 2025, Ethereum has attracted over $6.2 billion in capital, already surpassing its entire 2024 total.
Over the last 13 weeks, these inflows have accounted for 23% of Ethereum’s total assets under management — a powerful signal that institutions are increasing exposure.
Although Bitcoin still leads overall with $2.2 billion in inflows this week, Ethereum’s momentum stands out, especially as exchange-traded product (ETP) volume now makes up more than half of Bitcoin’s total trading volume.
This data suggests that institutions are not only accumulating ETH but may also be positioning it as a leading asset in the next phase of crypto adoption.
Macro tailwinds strengthen ETH price outlook
On the macro front, expected interest rate cuts from the Federal Reserve and the recent approval of Ether-based ETFs are creating a favourable environment for Ethereum to thrive.
These developments could reduce downside risk and help sustain the current rally, especially if capital rotation from traditional assets into digital assets continues.
Investor confidence is also growing as Ethereum regains its long-term ascending trendline, further reinforcing the view that the current rally is technically healthy.
According to some projections, ETH may reach as high as $10,000 under the right conditions, particularly if institutional inflows accelerate.
In the short term, according to our earlier Ethereum price forecast, eyes are on the $4,150 resistance zone as the next key ETH price level.
