Analyst Predicts Ethereum Price Rally to $5,400, Here’s All

• Analyst predicts $5,400 as the next Ethereum price target.
• Ethereum set new ATH After 1,381 days in the trenches
• Ethereum’s open interest is up by 15%.

An analyst says Ethereum price is eyeing $5,400 just a day after the largest altcoin by market capitalization surged to a new all-time high, following rate cut hints by Fed chair, Jerome Powell.

Immediately after Powell’s remarks,  the market shot upwards with a majority of retail traders going long on futures. At the time of writing, the total crypto market capitalization has added $250 billion, with Ethereum recording a weekly gain of 5.98% to its current price of $4,885.

What is the Next Price Target for Ethereum After the Recent ATH? Analyst Predicts $5,400

Ethereum price has broken into a new all-time high, and traders are already speculating the next stop for the largest altcoin. One analyst pointed out on X that the rally still has fuel.

Market watcher Washigorira highlighted a bull flag pattern, which has often been associated with strength. According to the analyst, ETH could be eyeing $5,400 as its next stop.

https://x.com/Washigorira/status/1959195812241854585

Adding to the bullish outlook, Myles Ginvest expects the next leg up to stretch even further. His target sits between $5,500 and $5,800, suggesting Ethereum may still have room to run.

For this to play out, ETH needs to hold above recent breakout levels. Strong support could quickly push prices toward these higher targets. However, a rejection or break in the uptrend could cause a short pullback before the next surge.

https://x.com/MylesGinvest/status/1958508758851838082

Fortunately enough, momentum is on Ethereum’s side, and the charts hint that the rally isn’t done yet. As such, the next target of $5,400–$5,800 could play out in the near term.

Ethereum Price Set New All-Time High After 1,381 Days in the Trenches

After 1,381 days, Ethereum holders finally got their long-awaited moment to celebrate a new all-time  high. On August 22, ETH smashed a new all-time high, right after Jerome Powell hinted at a Fed rate cut in September’s FOMC meeting.

The market reaction was explosive, with  Ethereum’s daily trading volume jumping 147% to $81.18 billion, showing just how strong the bullish momentum has become.

Large holders are also moving coins again, adding fuel to the rally. This spike in activity has put Ethereum firmly in the spotlight.

According to Coinglass, Open Interest in ETH is now closing in on Bitcoin’s levels, after recording a 15% increase over the past 24 hours. In fact, soon after Powell’s speech, Open Interest on Ethereum spiked by $3 billion.

Ethereum Exchange Supply Shrinks to 18.8K ETH as Trump Enters With $4.9M Purchase

Meanwhile, the supply of Ethereum on exchanges has collapsed to just 18.8K ETH. Whales are draining liquidity fast, with some analysts comparing it to “sharks in blood.”

https://x.com/MerlijnTrader/status/1959193899433378138

At the same time, former U.S. President Donald Trump has made headlines with a bold move,  purchasing $4.9 million worth of ETH. His entry adds fuel to Ethereum’s bullish narrative as supply continues to tighten further.

https://x.com/TedPillows/status/1958924056826106328

With fewer coins available on exchanges, even modest demand could send prices surging. Whales, institutions, and now high-profile investors are circling Ethereum, creating the perfect storm for a bigger rally.

Firms like SharpLink Gaming and Bitmine Technologies are employing fundraising tactics similar to those used by MicroStrategy to expand their ETH holdings. Their aggressive buying has also added momentum to Ethereum’s rally over the past two weeks.

At the same time, institutional demand is roaring back through Ethereum ETFs. Inflows spiked again on Friday, with $337 million pouring in, erasing most of the week’s earlier outflows. This steady wave of demand from both corporates and institutions is igniting confidence that Ethereum’s rally still has room to grow.