Ethereum finally did what everyone was hoping it would do – it broke through that stubborn $4,600 level that’s been giving it trouble for weeks. Now it’s sitting pretty at $4,692 , and honestly, the momentum feels different this time around.
What makes this breakout interesting isn’t just the price action. There’s some serious money moving around behind the scenes. We’re talking about millions flowing into Ethereum ETFs in just one day, which is pretty massive by any standard. BlackRock alone threw in $74.5 million, with Fidelity adding another $49.55 million.
But that’s not even the wildest part. Someone moved around 46,347 ETH between big wallets on the same day, worth about $204 million. When you see that kind of institutional shuffling happening right as the price breaks out, it’s usually not a coincidence.
The technical folks are getting excited because $4,600 used to be resistance, but now it’s acting like support. That’s exactly what you want to see if you’re bullish. The next targets they’re talking about are $4,720, $4,760, and $4,825 in the short term.
Looking at the bigger picture, some analysts think Ethereum could push toward $5,200 or even higher if this momentum keeps up. Whether that happens depends on if it can hold above these current levels.
Conclusion
Ethereum’s breakout above $4,600 feels like a real turning point. With ETF inflows, institutional moves, and strong support forming, momentum could drive it toward $5,200—if buyers keep control at these levels.
Also Read: Ethereum Poised for Major Move
