 
 
Ethereum is once again at the center of bullish market predictions, with analysts pointing to a potential surge that could push the second-largest cryptocurrency toward $16,500. ETH is holding firm at key support levels at $4,574.57, setting the stage for what could be its next major rally.
According to one analyst on X, Ethereum is locked between $4,000 support and its all-time high. A decisive weekly close above this zone would move ETH into “price discovery,” historically the phase where the largest gains occur.
In the last cycle, ETH soared 240% after breaking its previous highs. A repeat of that pattern could send the token toward $16,500.
Key levels and market sentiment
Market analysts from CoinMarketCap’s community note that Ethereum’s short-term trajectory depends on maintaining strength around $4,400. Crypto trader Daan Crypto noted that as long as ETH defends this level, a climb toward $5,000 and beyond remains likely. However, a dip below $4,000 could weaken momentum.
Recent trading has been choppy, with stop hunts and squeezes ahead of the Federal Reserve’s FOMC meeting, but whale accumulation continues to provide strong support.
 
Data shows that large ETH holders have steadily increased their positions, while institutional interest in ETH exchange-traded products (ETPs) has grown.
In other news, Ethereum’s upcoming Fusaka upgrade, which introduces PeerDAS to improve scalability, could expand network efficiency and attract more usage in DeFi and NFTs. Analysts also highlight that fundamentals, such as deflationary supply and staking yield, create a favorable long-term structure compared to competitors.
At press time, ETH was trading at $4,471, down 0.78% in the past 24 hours. The crypto has gained 97.8% over the past year, with a market cap of $552.14 billion and daily trading volume surging above $46 billion, according to CoinMarketCap.
Bullish momentum is building. If Ethereum clears resistance and enters price discovery, analysts believe $16,500 may not be far-fetched.