Ethereum Targets $6,800 as Price, ETF Inflows, and Futures Interest Hit New Highs

• Ethereum has surged for nine days and could reach $6,800 if it breaks key resistance levels.

• Technical indicators like the golden cross and cup-and-handle pattern suggest more upside.

• ETF inflows and futures interest are rising sharply, signaling strong institutional demand.

Ethereum is gaining bullish momentum after posting nine consecutive days of gains. ETH’s price has reached its highest level since December 2023 and could push further as several key metrics surge. Analysts now place the next major resistance level at $6,800, contingent on Ethereum breaking above the psychological $5,000 mark.

ETH Price Surge Backed by Strong Technical Patterns

Ethereum’s upward trajectory accelerated after July 9, when a golden cross formed on the daily chart. This occurred as the 50-day moving average crossed above the 200-day moving average. On the same day, ETH broke out of a bullish flag pattern, a setup often followed by extended rallies.

The coin trades above the Ichimoku cloud and the Supertrend indicator, confirming continued bullish strength. Additionally, Ethereum is forming a cup-and-handle pattern. The base of the cup sits at $1,370, while the upper resistance is at $4,101. If ETH completes this formation, a measured move could place the target at $6,800, an 80% gain from current levels.

To confirm this breakout, Ethereum must clear resistance at $4,080 and the key psychological barrier at $5,000. However, a drop below the $3,000 support would invalidate this bullish outlook.

ETF Inflows and Futures Open Interest Signal Strong Institutional Demand

The Ethereum ETF market is showing robust growth, with institutional demand reaching new highs. In the past week alone, ETH ETFs added $2.1 billion in inflows, more than double last week’s $907 million. Cumulative inflows now exceed $7.4 billion and are on track to hit $10 billion by September, marking one year since ETF approval.

BlackRock’s ETHA fund leads the charge, which accounts for over $8 billion in inflows. Other notable contributors include Grayscale and Fidelity. Funds by Invesco, 21Shares, and Franklin Templeton trail behind with minimal new capital.

Futures interest in Ethereum has also surged, reaching an all-time high of over $86 billion. This rise in open interest indicates heightened participation by traders and institutional investors, reinforcing the asset’s bullish case.

While ETH momentum is strong, its path to $6,800 depends on sustained demand and market sentiment. A confirmed breakout above $5,000 could open the door for new highs this year. Traders now watch technical levels and institutional flows as the next key drivers.