Ethereum Price Pumps on ETF Frenzy, Can It Break $4K Soon?

Key Insights:

• Ethereum price hits $3,023 as spot ETF inflows break records.
• Open Interest and whale activity confirm rising demand.
• Fractals and Fibonacci patterns suggest the ETH price may target $10K.

Ethereum price broke above the psychological $3,000 mark twice in a week. Record-breaking ETF inflows triggered this move, but other forces were also at play.

According to SoSoValue, ETH spot ETFs brought in $907.99 million over the last week, its largest inflow ever.

The breakout above $3K is now backed by strong institutional demand, not just retail flow. As Ethereum pushes higher, analysts are beginning to seriously consider whether $10,000 ETH is now a realistic target.

Open Interest and Whale Activity Confirm Real Momentum

On-chain data from CryptoQuant shows that Open Interest has jumped past $21.5 billion, its highest level in over a year. Open Interest refers to the total number of active futures contracts in the market.

When it rises alongside price, it usually means new money is entering, not just recycled leverage from old positions.

At the same time, whale wallets are accumulating. According to Santiment, top Ethereum wallets have been adding to their holdings, while DeFi TVL (total value locked) is up 18% month-on-month.

This mix of rising futures bets and spot accumulation suggests both short-term traders and long-term holders are in sync.

While the whale transaction count doesn’t specifically mean accumulation, the pattern seems hodling-biased now that the numbers have followed the price action.

Together, these signs confirm this rally isn’t just a fakeout: it’s being driven by stronger conviction and real inflows.

Chart Patterns and Fractals Point to $10K ETH

Multiple technical analysts are comparing this breakout to the 2016–17 rounded base pattern that led to Ethereum’s first parabolic move. CryptoCaesar sees similar behavior now, with a clear base, breakout, and early-stage run forming.

Caesar’s ascending channel shows that even the ETH ATH, which would close in on $5,000, isn’t the top of this cycle, and a road towards $10K looks imminent.

Analyst MerlijnTrader has drawn attention to a fractal from 2016 that looks nearly identical to today’s setup. He notes that while back then ETH moved on hype alone, this time the move is supported by ETF inflows, global exchange listings, and actual institutional trading.

Analyst CryptoBusy is also tracking a large Inverted Head and Shoulders pattern on the daily chart. This pattern often signals the start of a trend reversal, and ETH just broke above its neckline, another sign that the move may only be starting.

Ethereum Price Breaks Fibonacci Resistance; What’s Next?

Ethereum has broken through the 0.618 Fibonacci extension level at $3,045. This level was calculated from the swing low of $1,388 to the local high of $2,869 and then to the retraced level of $2,123.

Price has now cleanly closed above that resistance, making $3,045 the new support. However, $3,045 still remains a strong resistance-cum-support line given the final direction of the price.

The next resistance level is $3,295, which corresponds to the 0.786 Fibonacci level. A sustained close above that would open the door to $4,000 and beyond. The price structure now shows Ethereum has moved from consolidation into the breakout phase.

Fibonacci extension is a technical tool used to identify potential support and resistance levels based on previous price swings and trends.

Ethereum price has reclaimed the $3,000 level with confidence. ETF inflows are at a record high, Open Interest is spiking, and whales are accumulating. Chart patterns from 2016 are repeating, but this time with stronger fundamentals and real inflows.

With resistance at $3,295, the next key hurdle and the $10K target backed by technicals and capital flows. However, a dip under $2,693 can invalidate the bullish setup, pushing the ETH price inside a range.