Ethereum Key to Surging Above $5K Lies in Holding the $4.1K Support Level

Key Insights:

• Ethereum’s price at $4,029.46 faces crucial support at $4,100, potentially triggering a rally above $5,000.
• Institutional investors now hold 10.3% of Ethereum’s total supply, signaling growing confidence.
• Robert Kiyosaki endorses Ethereum alongside silver, adding to the bullish sentiment in the market.

Ethereum price remains at a critical juncture. With the current price at $4,029.46, the key to a potential surge above $5,000 lies in holding the $4,100 support level. Traders are closely watching these price levels as the future of Ethereum’s movement largely depends on maintaining this crucial zone.

Ethereum’s Support Level at $4.1K

Ethereum’s price has been hovering around the $4.1K support level for a while. Weekly candles have consistently closed above this level, signaling its significance. For Ethereum to rise above the $5,000 mark, it must first consistently hold above $4,100. Failure to do so could result in a period of range-bound trading, similar to what was observed in previous weeks.

According to crypto analyst Daan Crypto, “he previous candles were able to maintain that ~$4.1K level on the closes.” This suggests that the $4.1K region serves as a strong support zone, potentially helping Ethereum maintain its bullish momentum if it remains stable in the future.

Institutional Interest in Ethereum

However, Ethereum is gaining increasing attention from institutional investors. Treasuries and Exchange-Traded Funds (ETFs) now hold a total of 12.5 million ETH, making up 10.3% of Ethereum’s total supply. This is the largest share ever held by institutions, signaling a growing belief in the long-term value of Ethereum.

Based on the Coin Bureau’s highlighting of this development, note the increasing institutional involvement in the Ethereum market. The presence of large investors could bring more stability and upward pressure to the price, especially if Ethereum continues to trade above $4.1K. As of press time, Ethereum was trading at $4,029.46, reflecting a 2.25% decline over the last 24 hours.

Robert Kiyosaki’s Bullish Ethereum Outlook

Meanwhile, Robert Kiyosaki, well-known for his financial insights, has also expressed confidence in Ethereum’s future. He recently mentioned, “Silver and Ethereum, “hot, hot, hot,” signaling that Ethereum could see strong demand in the near future.

His statement reflects the growing interest from both individual and institutional investors in Ethereum as a solid asset class. As Kiyosaki pointed out, smart money is shifting into both hard assets, such as silver, and digital assets, like Ethereum. His endorsement adds to the growing sentiment that Ethereum could be entering an intense bullish phase if it can maintain key support levels.