BlackRock Accumulation Ethereum – Forecast ETH price rise to the sky to 3,000 dollars

The Ethereum price (ETH) is consolidating between $2,300 and $2,800 over the past 30 days, but this sideways phase may be coming to an end. The 4-hour chart shows that ETH is still holding support from the (EMA) 200-day exponential moving average, and the price is forming a hidden bullish divergence with a (RSI) relative strength index. Hidden bullish divergences occur when the price forms higher bottoms while indicators such as the RSI form lower bottoms, signaling a trend breakout.

! ETH hidden bullish divergence on the 4-hour chart | Source: TradingViewEthereum (OI) open futures data from CoinGlass shows a 40% increase from $26 billion to $36 billion in the last 30 days, reflecting traders' growing confidence amid consolidation prices – a pattern that tends to precede breakouts.

OI ETH futures contract | Source: CoinGlass## Ethereum spot ETF surges as BlackRock continues to buy

According to data from Glassnode, Ethereum spot ETF funds have marked the fourth consecutive week of net inflows, adding 97,800 ETH, bringing the total holdings to 3.77 million ETH.

The balance chart of the US spot Ethereum ETF funds | Source: GlassnodeMeanwhile, BlackRock is quietly accumulating Ethereum, holding 1.5 million ETH (2,71 billion dollars) for custody (custody) and tokenizing on-chain assets. This asset management company has purchased 500 million dollars worth of ETH in the past 10 days, reflecting institutional confidence in this altcoin, even though its price is currently 45% lower than its all-time high.

In addition, ETH investment products led the inflow of funds among cryptocurrency ETPs last week, attracting $296 million despite the market slowing down as investors await regulatory clarity from the U.S. Federal Reserve. This marks the seventh consecutive week of inflows – the best stretch since President Trump's 2024 election victory, with Ethereum ETP now accounting for over 10.5% of total managed cryptocurrency ETP assets. CoinShares also reported a significant recovery in investor sentiment.

The price of ETH has returned to the middle line of the Gaussian channel

The price of ETH has also returned above the midline of the Gaussian channel, a dynamic market trend indicator. The Gaussian or Normal distribution channel charts price volatility within a dynamic range, adapting to the volatility conditions of the market.

Ethereum Gaussian Channel Analysis | Source: TradingViewHistorically, bullies have occurred when ETH crossed the midline of the Gaussian Channel. For example, in 2023, ETH soared 93% to $4,000 after such a crossover, while in 2020, it soared by 1,820%.

With ETH currently stable on this important indicator at $2,711, technical analysis predicts a potential bullish move up to $3,100 to $3,600 if the upward momentum holds, based on the historical accuracy of the channel in forecasting short-term gains.

Dinh Dinh