10x Research: Ethereum Shows Unexpected Resilience, Nears Apex Of Key Technical Formation
In Brief
10x Research reports that ETH is approaching a potential breakout amid strengthening technical indicators and rising institutional interest.
Firm focused on digital asset analytics for wealth managers and cryptocurrency service providers, 10x Research released a new report noting that one year ago, during peak excitement over the potential approval of Ethereum exchange-traded funds (ETFs), the firm took a contrarian, bearish position.
At that time, Wall Street lacked a strong narrative to market these financial products to institutional clients, and on-chain metrics on the Ethereum network remained largely inactive. Consequently, the price of ETH declined from approximately $4,000 to around $1,500.
As market conditions have improved—partly due to reduced concerns over tariff-related policies associated with President Donald Trump—Ethereum has shown signs of recovery. While a short-term correction was anticipated recently, price movements have exhibited more strength than previously expected.
According to 10x Research, from a technical standpoint, Ethereum appears to be nearing the apex of a larger triangle chart formation, suggesting a potential breakout. If confirmed, such a breakout could lead to a price move toward either $2,000 or $3,000. This shift may be driven by changes in market fundamentals or the impact of substantial capital inflows from large investors.
10x Research however, highlights that several critical questions remain. These include whether Ethereum ETFs are now being marketed more effectively to institutional investors; whether the network has seen increased activity following the Pectra upgrade; whether Sharplink Gaming’s $425 million purchase of ETH for treasury purposes signals a broader trend of institutional accumulation; and whether Ethereum’s price strength may instead be tied to favourable regulatory developments.
Simultaneously, other analysts have supported the positive outlook for Ethereum’s price trajectory. In a post on social media platform X, MN Capital founder Michael van de Poppe noted that Ethereum appears positioned for a meaningful breakout to the upside. His analysis was accompanied by a chart depicting the ETH/USD trading pair maintaining its position above a support zone near the $2,400 level on the six-hour timeframe.
The chart also identified a critical resistance range between approximately $2,680—where the 200-day simple moving average is currently located—and $2,850. According to Michael van de Poppe, Ethereum would need to surpass this upper range in order to establish a new annual price high, indicating that clearing this technical threshold is essential for further bullish momentum.
Ethereum Holds $2,598 As Spot ETFs See Strongest Inflows Since December
At the time of the writing, ETH is trading at $2,598, reflecting a decline of around 1.43% over the preceding 24-hour period. During this timeframe, the asset’s intraday low was recorded at $2,588, while the peak reached $2,669. Ethereum’s current market capitalization is estimated at $313.56 billion, indicating a 1.53% decrease within the same time window.
Meanwhile, the US-listed spot Ethereum ETFs have recorded net inflows for thirteen consecutive trading days. According to data from SoSoValue, the combined net asset value of these ETFs currently stands at roughly $9.8 billion.
CoinShares data indicates that global Ethereum-focused investment products experienced $321 million in inflows over the past week. This represents the most substantial weekly increase since the latter part of December 2024.
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About The Author
Alisa, a dedicated journalist at the MPost, specializes in crypto, AI, investments, and the expansive realm of Web3. With a keen eye for emerging trends and technologies, she delivers comprehensive coverage to inform and engage readers in the ever-evolving landscape of digital finance.
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Alisa, a dedicated journalist at the MPost, specializes in crypto, AI, investments, and the expansive realm of Web3. With a keen eye for emerging trends and technologies, she delivers comprehensive coverage to inform and engage readers in the ever-evolving landscape of digital finance.
