Ethereum’s recent price surge has been fueled by increasing buying pressure in the market, as well as a positive sentiment following the easing of tensions in the China-US trade war. This has led to a rise in crucial on-chain metrics for Ethereum and an uptick in activity in the DeFi space. With all these factors at play, it is becoming more likely that Ethereum’s price could potentially reach the $2,000 mark in the near future.
One significant development to note is that Ethereum’s netflow has turned negative, indicating that more Ethereum is leaving exchanges than entering them. This suggests that investors are moving their coins to cold wallets, signaling their intention to hold onto their assets rather than sell them. This reduction in selling pressure could contribute to further price appreciation for Ethereum.
Furthermore, Ethereum exchange-traded funds (ETFs) have seen a significant increase in net inflows, with $64 million flowing in on April 28 alone. This follows a strong inflow of $151.7 million during the week ending April 25, marking the highest weekly inflow since February 2025.
In the DeFi space, Ethereum continues to dominate, with the network’s total value locked (TVL) reaching over $51.7 billion, up about 15.5% in the past week. Daily trading volumes on decentralized exchanges have also surged by more than 30% over the last week, reaching $1.65 billion. This uptick in DEX and on-chain activity indicates strong momentum for Ethereum, increasing the likelihood of a potential break above the $2,000 mark.
As for the future price outlook for Ethereum, the cryptocurrency has closed above its 50-day moving average amid a surge in buying demand. However, it is struggling to break above the $1,900 level as selling pressure intensifies. At the time of writing, ETH is trading at $1,826, with a 1.4% increase in the last 24 hours.
The key level to watch on the downside is the 20-day moving average at $1,802. A bounce from this level could signal a potential push towards $1,950, with strong resistance expected at that level. Breaking above $1,950 could pave the way for a rally towards $2,100 and even potentially above $2,500 if buying demand remains strong.
On the other hand, a drop below the 20-day moving average could indicate that sellers are still in control, potentially leading to a further decline towards $1,560. Monitoring these key levels and market dynamics will be crucial in determining Ethereum’s price trajectory in the coming days.