Ethereum price is showing renewed strength after an analyst projected a move toward $8,000. The ETH price structure now reflects both technical and institutional tailwinds. John Bollinger has confirmed a potential “W” bottom formation, while VanEck’s recent staked Ethereum ETF filing has added credibility to market sentiment. These combined signals present a constructive setup for Ethereum, suggesting that market participants are regaining confidence.
Ethereum Price Rebounds as Bullish Divergence Aligns with Pennant Breakout
Analyst Javon Marks recently identified a clear bullish divergence on the Ethereum price chart, noting that ETH could revisit the $4,700 region. His analysis highlights $4,811 as a pivotal resistance, where a breakout could open the path toward the projected $8,000 zone.
At press time, Ethereum is trading at $4,037.39 after a 1.16% daily increase, showing renewed activity near key short-term support.
Additionally, the ETH price recovery from the previous decline has maintained higher support near $3,700, reinforcing a healthy accumulation base. This reflects strength within its structure and continued buyer presence across mid-range zones.
On the 1-day chart, Ethereum price rebounded from $3,444, confirming a bullish pennant flag structure. Meanwhile, the 0.618 Fibonacci retracement at $4,255 acts as the immediate resistance, while $4,757 remains the breakout threshold to watch.
Notably, a decisive move above this region could validate the broader uptrend, targeting the 1.618 Fibonacci extension at $5,568. These levels define a technical roadmap grounded in confluence and progression.
The ongoing setup also strengthens the long-term Ethereum price prediction narrative, highlighting ETH’s potential to sustain structured growth as conditions align with historical breakout behavior.
Bollinger’s ‘W’ Bottom and VanEck ETF Bring Institutional Confidence Back to Ethereum
John Bollinger recently noted that Ethereum displays a “W” bottom structure, a pattern often linked to double-dip recoveries. This formation, with a higher second low, suggests improving resilience and accumulation within the Bollinger Bands. Besides, his observation distinguishes Ethereum and Solana from Bitcoin, which currently lacks the same structural confirmation.
VanEck’s staked Ethereum ETF filing complements this technical setup by introducing an institutional dimension to market recovery. Furthermore, the filing underscores growing regulatory engagement with Ethereum’s staking ecosystem.
Specifically, it integrates liquid staking exposure through Lido, a protocol already central to ETH’s yield market. Therefore, the combination of this regulatory progress and Bollinger’s technical validation reinforces Ethereum’s bullish framework.
To sum up, Ethereum price continues to consolidate within a favorable structure supported by technical and institutional alignment. A break above $4,811 would validate the analyst’s $8,000 projection and confirm trend continuation. With Bollinger’s “W” bottom and VanEck’s ETF filing reinforcing this setup, Ethereum’s near-term trajectory appears structurally supported.