Ethereum, aiming for $6,000 breakthrough... Rally expected amid supply shortage and institutional buying

▲ Ethereum (ETH)

Ethereum (ETH) is aiming to break through $6,000, bolstered by three key positive indicators. A supply shortage and increasing institutional demand are strongly supporting the price increase.

According to Cointelegraph on April 23 (local time), Ethereum is currently showing technical patterns that suggest reaching historical highs. On the weekly chart, the Moving Average Convergence Divergence (MACD) index recorded a golden cross, confirming a bottom signal. In the past, when similar patterns appeared, the price surged by up to 260%. The Relative Strength Index (RSI) is also recovering from the oversold zone, accumulating strong rebound energy.

Data on the supply side is even more optimistic. The amount of Ethereum moving out of exchanges recently hit a 7-month high. A CryptoQuant analyst diagnosed, "Buying addresses are outpacing selling-ready addresses, signaling a full-blown supply shock." As whale investors absorb exchange volumes and move them to personal wallets, market selling pressure has significantly decreased.

The recovery in demand from U.S. institutional investors is also notable. The Coinbase Premium Index has turned positive, soaring to its highest level since October 2025. This indicates aggressive buying by institutions in the U.S. market. Ethereum spot ETFs have recorded net inflows for 10 consecutive days, attracting a total of $590 million in funds. This fund flow is similar to the 95% surge seen in Q4 2024.

Bitmain Emergent Technology, the world's largest public holder of Ethereum, recently purchased an additional 101,627 ETH. This is evidence that institutional investors are designating Ethereum as a long-term store of value and increasing their holdings. In the futures market, buying volume has also surpassed $5 billion, signaling a victory for the bulls.

Ethereum is currently maintaining a strong upward trend towards the symbolic target price of $6,000. Technical analysis, on-chain data, and institutional supply and demand are all pointing to an upward curve. The dominant assessment is that all conditions for reaching a new historical high have been met.

*Disclaimer: This article is for investment reference only, and we are not responsible for any investment losses based on it. The content should be interpreted for informational purposes only.*