According to the data, many listed companies and crypto whales are increasing their ETH holdings, and on-chain activity is becoming more active.
These factors provide a solid foundation for ETH's bullish momentum, with analysts setting short-term price targets at $7,000.
Positive Data
At the current stage, it shows that several listed companies are holding a significant amount of ETH as assets. For example, BitMine has announced that it holds approximately 1,150,263 ETH (at around $4,311 per ETH).
Similarly, SharpLink (SBET), a major player in this field, has been reported to hold around 521,939 ETH.
Additionally, a notable transaction reported by OnchainLens shows that a whale has accumulated about 60,000 ETH across multiple platforms. The Ethereum ETF surpassed $1 billion in net inflows on August 11th, led by BlackRock's ETHA, indicating institutional interest.
At the infrastructure layer, on-chain data indicates that the amount of ETH locked for staking has reached an all-time high. Token Terminal recorded that the staking value has exceeded $150 billion. Simultaneously, exchange ETH holdings have been reported by Axel_bitblaze69 to be around 18.9 million ETH, an all-time low.
These indicators could reduce the available supply and promote price increases.
Tokenized assets are also concentrated on Ethereum. Token Terminal reported that approximately 58% of publicly tokenized assets are on Ethereum. This reinforces the view that Ether directly benefits from capital inflows due to RWA and tokenization.
Short-term ETH Price Target
Along with these positive on-chain indicators, ETH is also forming promising technical patterns. Analyst Gert van Legen observed that ETH has completely broken through a descending expanding wedge pattern on the weekly chart.
"Next target: all-time high of $4,860. Ready to attack," Gert van Legen said optimistically.
Using price bands, analyst Ali predicted that Ethereum's next targets are $5,210 and $6,946. With ETH currently trading around $4,300, reaching these targets would require a price increase of 14% to 63%.
Sharing a similar outlook, analyst VirtualBacon believes ETH could reach $6,000 to $7,000 this year. He mentioned that the price rise to $4,300 has opened the door to much higher levels by year-end.
"If Bitcoin reaches $150,000 and ETH/BTC rises to 0.044, ETH can reach $6,000 to $7,000 this year. My conservative target is $6,600," VirtualBacon said.
From another bullish perspective, analyst Crypto Patel saw a strong short-term upside potential for Ethereum, especially if it breaks through the $4,400 level.
The combination of strong spot market demand, active derivatives trading, high open interest and substantial short positions, along with supply reduction due to staking and exchange outflows, creates ideal conditions for a sharp increase, potentially in a parabolic form.
However, Patel warns that selling pressure could occur if the price fails to break through $4,400 and reverses downward.
