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▲ Ethereum (ETH)
As Ethereum (ETH) recovered to $2,300, market analysts believe that strong further gains could emerge, driven by institutional tokenization demand and expectations for the US cryptocurrency market structure bill.
Cointelegraph reported on May 13 (local time) that Ethereum rose 2% in 24 hours to trade at $2,320, and that JPMorgan and BlackRock's push for Ethereum-based tokenization funds is fueling expectations for an uptrend. Ethereum failed to break past the $2,400 resistance last week, and outflows from Ethereum spot ETFs and increased Binance balances are said to have shaken the recovery trend.
In the market, whether Ethereum recovers $2,400 was identified as key to the continuation of the short-term bullish trend. Analyst CryptoJack stated on X (formerly Twitter) that Ethereum remains within a symmetrical triangle on lower time frame charts, adding that "a breakout could soon lead to a strong move." Crypto Patel analyzed that Ethereum is trading within an ascending triangle that has guided its price movement since 2020, and is rebounding from the lower trend line near $1,800.
Long-term price targets were also aggressively proposed. Crypto Patel set Ethereum's upside target between $10,000 and $15,000, stating, "Ethereum will outperform the market in this cycle." Celal Kucuker also outlined a path for Ethereum to move above $24,000 in the long term. Cointelegraph reported that the monthly Relative Strength Index (RSI) has cooled to a historical support zone of around 42-45, which was seen before past rallies.
The trend of institutional adoption was presented as a core basis for the bullish case for Ethereum. JPMorgan is preparing to launch a tokenized money market fund on Ethereum, allowing stablecoin issuers to hold reserves and earn interest. BlackRock has also applied for a tokenized version of a Treasury liquidity fund, with official ownership records to be managed on Ethereum using the ERC-20 standard. According to RWA.xyz data, the global tokenized fund market has already exceeded $31 billion, and Ethereum accounts for approximately 55% of this market.
The US cryptocurrency market structure bill was also mentioned as another catalyst. Michaël van de Poppe, founder of MN Capital, stated that the approval of the US cryptocurrency market structure bill, set for review on Thursday, could be a "huge trigger" for the market. Polymarket participants reflect a 60% probability that the bill will be signed into law by 2026, a 5% decrease in the last 24 hours. Cointelegraph also cited the example of Ethereum's 65% surge from $3,000 to an all-time high of $4,950 after the stablecoin regulation bill GENIUS was signed into law in July 2025.
*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.*
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