Ethereum Price News: Weekly ETH Chart Suggests Imminent Move to $5,000

Ethereum (ETH) bulls have finally managed to push through the $4,000 barrier. This was the market’s fourth attempt in the past 19 months or so to get ETH above that level and it has finally paid off.

We can’t underestimate the importance of the Pectra upgrade to get the task done as this latest technical improvement to the EVM’s operational framework has improved the network’s prospects, scalability, and efficiency.

It has been a remarkable ride for ETH as the token recovered from a 2025 low of $1,400 to $4,200 at the time of writing – a 200% gain for the lucky few who bought at the very bottom.

Meanwhile, in the past 30 days alone, the token has rallied by 45% and has overturned a year-to-date loss that, at some point, reached a peak of nearly 50% to a yearly gain of 25%.

Ethereum ETFs Took In More Than $400M on Friday

Net inflows to exchange-traded funds (ETFs) managed to close last week in green territory with $250 million being poured into ETH-linked vehicles. Big inflows on Thursday and Friday managed to surpass the $500 million in net outflows they registered on Monday and Tuesday.

Data from The Block indicates that, by the end of last week, the total assets under management (AUM) of all of these funds increased to nearly $19.7 billion. This represents an 83.3% increase on a year-to-date basis.

ETH Liquidations (Last 6 Months) – Source: CoinGlass

Last Friday, more than $200 million in long ETH positions were wiped out. This short-squeeze contributed to accelerating the token’s climb to its current highs. This was the second highest daily reading in short liquidations for ETH of the past 6 months.

This is an interesting piece of data as it has bearish capitulation written all over. Since the last time the market wrecked so many shorts (May 5), ETH has rallied by more than 100%. Can this latest short squeeze produce such high gains over the next couple of months?

Latest Bullish Prediction Yielded a 12% Gain in 13 Days

In our latest Ethereum price prediction from last Friday we shared a technical setup that we have been tracking since July 28 and that has finally resolved the expected bullish outcome. Since we first published that chart, ETH has delivered gains of 12%.

ETH respected its trend line support a few days ago and strongly bounced off that mark to then break the $4,100 resistance – a key level where the selling pressure had accelerated previously to the point of causing major declines.

We have now made a higher high and the uptrend is still raging. Momentum indicators are moving upwards as well. The Relative Strength Index (RSI) made a clear turn and has already surpassed its 14-day moving average.

ETH/USD Daily Chart (Coinbase) – Source: TradingView

Now, the road to $5,000 seems paved. This means a 17% upside potential from current levels.

We could expect a retest of the former horizontal resistance at $4,100 from above before the uptrend resumes.

We could even see ETH dropping to $3,750. If that’s the case, that could be an interesting chance to enter a long position at a highly attractive price as the upside potential if the token heads to $5,000 would be much higher at around 33%.