Ethereum Price Prediction: Target Set at $2.8K as Buy Signal Pops Up

Ethereum (ETH) has become the top-performing token in the top 5, rallying by 14% in the past 7 days alone as bears continue to get squeezed.

Trading volumes jumped by more than 100% in the past 24 hours, as short liquidations spiked near $500 million.

ETH shorts currently account for more than a fifth of that total, as the token broke past a key resistance at $2,150.

Last week, investors poured $197 million into exchange-traded products (ETPs) linked to the top altcoin, as per data from CoinShares. Analyst James Butterfill emphasized that, last week, crypto ETPs as a whole brought in the highest inflows since January.

Fear and Greed Index Rises to Highest Level Since October 2025

We have been predicting a rally for ETH to $2,800 for weeks, and the latest trading opportunity we identified is already yielding positive results as the token hit $2,400 during today’s session.

Market sentiment has improved against all odds, as oil prices retreated below $100 even though President Donald Trump opted to block the Strait of Hormuz. It appears that the market expects a resolution of the Iran war soon enough.

The crypto Fear and Greed Index rose to its highest level since October last year at 56, moving from Extreme Fear to Neutral in two and a half months. In the past, whenever this kind of turnaround in sentiment happened, it usually marked the end of a bearish cycle.

Meanwhile, we have been tracking an on-chain metric called the MVRV Ratio for Ethereum for months, and are currently seeing a bullish signal.

This ratio measures the relationship between the market value (MV) and realized value (RV) of all ETH tokens in circulation. The RV is the price paid for every token in circulation. Whenever this metric starts rising after a bearish cycle, it tends to signal that a bottom is in.

The metric has risen from a recent low of -42% to -21% at the time of writing. This could be the beginning of Ethereum’s recovery, although the definite “buy” signal would come once (or if) the ratio rises above 0%.

Mean Reversion Move Could Push Ethereum to $2,800

Heading to the charts, the daily time frame shows an interesting breakout above a former sell wall at $2,400. However, the selling pressure seems to be rising during today’s session at that level.

If bulls manage to keep ETH above that mark, the rally would likely continue. That said, the situation in the Middle East is far from over. Geopolitical tensions are still at a high level, and the impact of higher oil prices on the global economy and inflation in the United States is yet to be seen.

We don’t necessarily expect that Ethereum will fully reverse its downtrend, but the odds do favor a reversion to the mean. In this case, that translates into a move toward the 200-day exponential moving average (EMA), which currently sits near $2,700.

A buy signal in the daily time frame is a powerful indication that “institutional” volumes could be backing this recent move.