Ethereum (ETH) is building strong bullish momentum, fueled by resurging institutional interest, robust network fundamentals, and a favorable technical setup. With price action holding firmly above $1,800 and forming a classic bull flag pattern, analysts are increasingly optimistic that Ether could soon break the $2,000 resistance and target $2,100 next.Institutional Ethereum ETF Demand Reignites Bullish MomentumEther’s price rose to a multi-week high of $1,860 on April 28, its highest level since early April. Market analysts agree that sustaining levels above $1,800 is crucial for maintaining the bullish momentum.“Once ETH confirms this 4-hour close above resistance [$1,800], Ether and altcoins will finally get their time to shine,” said trader Kiran Gadakh in an April 29 X post, forecasting a quick surge toward $2,000.Institutional interest in Ethereum appears to be rebounding strongly. On April 28, Ethereum ETFs recorded $64.1 million in net inflows, following $151.7 million of inflows during the week ending April 25 — the highest inflows since February 2025, according to CoinShares.Moreover, Ethereum investment products ended an eight-week streak of outflows with $183 million in net inflows last week, signaling renewed confidence among traditional finance participants."Concerns over corporate earnings and a weakening US dollar are driving investors toward digital assets as emerging safe havens," noted CoinShares' head of research James Butterfill.This surge in institutional buying exerts upward pressure on ETH price by absorbing available supply and validating its role as a macro hedge asset.Ethereum Network Fundamentals Remain StrongEthereum continues to dominate the Layer-1 landscape, boasting a total value locked (TVL) of $51.8 billion, according to DefiLlama — an impressive 16% increase over the past seven days.Aave, Lido, EigenLayer, and Ether.fi led deposit growth, posting double-digit TVL increases.Ethereum's daily DEX volume jumped by 30% to $1.65 billion, reflecting strengthening trading activity across decentralized platforms.While Sui and Solana have seen higher percentage surges in DEX volumes, Ethereum maintains a commanding lead in absolute figures, reinforcing its critical role in the DeFi ecosystem.Compared to other blockchains, Ethereum’s steady growth trajectory in both TVL and transaction volume highlights its enduring network effect and developer activity advantage.ETH Price Technical Setup Hints at $2,100 NextTechnically, Ethereum has formed a bull flag pattern on the four-hour chart — a bullish continuation formation signaling a potential breakout.A four-hour close above the flag’s upper boundary at $1,800 has validated the pattern.Based on the flagpole's height, the upside target for ETH is around $2,100, representing a 15% rally from current levels.Additionally, the Relative Strength Index (RSI) hovers around 60, reinforcing bullish conditions without flashing overbought warnings.Analysts also point to the 20-day simple moving average (SMA) at around $1,700 as solid support, offering a strong base for Ethereum's next leg higher.If Ethereum sustains above $1,800 and gathers momentum, reaching the $2,100 target appears plausible — and breaking through $2,110 resistance could even pave the way for a move toward $2,500 later in 2025, according to historical pattern projections.With ETF inflows resurging, strong DeFi and trading activity, and a bullish technical setup, Ethereum price is increasingly well-positioned to break through $2,000 and potentially test $2,100 in the coming days.While macroeconomic conditions and broader crypto market sentiment will still play a role, Ethereum's improving fundamentals and growing institutional interest are setting the stage for a possible major breakout in the near term.Key Highlights:Ethereum ETFs posted the highest inflows since February 2025.Ethereum TVL climbed 16% weekly to reach $51.8 billion.A bull flag on the ETH chart targets $2,100 as the next resistance.
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