Ethereum Mirrors Global Liquidity: $6K Target in Sight

Key Insights:

• Ethereum mirrors global M2 liquidity, moving higher as liquidity expands through mid-2025 into a bull phase.
• ETH confirmed a breakout with a bullish retest at $3,900–$4,000, flipping major resistance into strong support.
• Traders eye $6,000–$7,000 by Q4 as global liquidity growth supports Ethereum’s ongoing rally.

Ethereum (ETH) is following global liquidity trends closely, with traders eyeing higher levels if the correlation holds. At press time, ETH changed hands at $4,476.04, supported by $20.42 billion in 24-hour trading activity. The token has gained 3% in the past day but remains 7% lower over the week.

Ethereum Moves With Global Liquidity

Charts shared by Merlijn The Trader show Ethereum’s price moving almost in step with global M2 liquidity. The white line represents liquidity, while the blue line plots ETH. Both lines have mirrored each other through 2025, climbing during expansions and easing during contractions.

Earlier this year, ETH consolidated below $2,750 while liquidity stayed subdued. As global liquidity started to expand from mid-2025, ETH broke higher, moving into what Merlijn called the “bull run phase.” The chart marks Ethereum near $4,500 with the label “We Are Here,” showing ETH aligned with liquidity’s current path.

Merlijn wrote,

 “Accumulation is done. The bull run is alive. Global liquidity is expanding higher and $ETH is mirroring the move.” 

In addiction, the chart also suggests that traders waiting on the sidelines could be forced to chase ETH above $6,000 if momentum continues.

Breakout Retest Confirms Support

A separate chart from CryptoGoos highlights a breakout on the weekly timeframe. ETH pushed through the $3,900–$4,000 resistance band that capped several rallies in 2024 and early 2025. Price then retested this zone successfully, flipping it into support. The retest is marked with a green arrow labeled “BULLISH RETEST.”

CryptoGoos commented, “Bullish retest for $ETH. $7,000 in Q4!” Strong green Heikin Ashi candles on the weekly chart reflect firm buying interest after the breakout, reinforcing the bullish continuation outlook.

Outlook Toward Year-End

Ethereum is consolidating above $4,400 while holding firm over the retested support. The combination of technical breakouts and global liquidity expansion provides a strong backdrop for further gains.

If the correlation holds, ETH could push toward the $6,000–$7,000 zone by Q4. Traders are watching closely to see if liquidity conditions remain favorable and whether Ethereum can sustain its upward pace into the end of the year.