Ethereum's Bullish Push Towards $2,000: Here's What's Going On
Ether Price Bears Push Toward $2000: Reaching This Level Crucial for a Prolonged Upsurge
Over the past few days, Ethereum [ETH] has made a significant move, surging from $1.5k to break the $1.8k barrier. This climb has been largely driven by a cohort of determined buyers known as conviction buyers, as per Glassnode.
The strength of these conviction buyers is evident in Ethereum's supply mapping. Momentum buyers have been relatively inactive, but conviction buyers have been consistently active since late March 2025, with an impressive surge in their RSI, currently holding at 80, indicating a strong market dominance. In contrast, sellers peaked around the 16th of April and saw a sharp drop in their RSI to 50.
With the latest uptick, Ethereum's market cap has risen by 12%, reaching a staggering $219 billion. On-chain data suggests that there is only modest resistance ahead, and analysts are eagerly watching for a substantial move. The next significant sell wall is expected around $1.860. If this barrier is breached, Ethereum could potentially make its way back towards the psychological $2k level.
The organic demand for Ethereum appears to be growing strong. At the moment, sellers are virtually absent in the market, outnumbered by buyers. The Futures Volume Sell has dropped to $17.7 million over the past week, while buy volume stands at $20 million, representing a difference of $3 million.
Moreover, whales don't seem to be cashing out. The ETH Large Holders Netflow to Exchange Netflow Ratio has declined to 1.76%, indicating that whales are sending less ETH into exchange, suggesting accumulation behavior from large holders. The Ethereum Spot Market has also cooled down, with ETH recording negative exchange netflow, reflecting a buying trend rather than selling.
However, for the bullish setup to remain intact, Ethereum must hold above $1.8k. According to Glassnode, if the price flips the $1,895 cost-basis cluster, where 1.64 million ETH is concentrated, a clean run towards $2k is likely. But if the bullish momentum falters here, there's a risk of revisiting the $1.6k support zone.
In summary, a confluence of technical, on-chain, and market factors is contributing to Ethereum's surge towards $2,000. While it's achievable in Q2 2025, longer-term forecasts remain more ambitious ($4,700–$5,960). But for now, the near-term technicals and accumulation trends indicate that the $2k threshold is Ethereum's immediate priority.
Insights:
- Conviction buyers are the primary force behind the recent Ethereum surge, with the RSI holding at a high 80, indicating strong market dominance.
- The near-term technicals and accumulation trends indicate that Ethereum's $2k threshold is its immediate priority, as per analysts.
References:
- Glassnode - Accumulation Zone Growth
- IntoTheBlock - Ethereum Chainlink (LINK) Technical Analysis
- The Mongoose Crypto - Ethereum Price Forecast
- FXEmpire - Ethereum Price Prediction 2025
- Investing.com - Ethereum Price Prediction 2022, 2023, 2024, 2025, 2030
- The recent surge of Ethereum [ETH] towards $2,000 is fueled primarily by conviction buyers, a group whose strength is reflected in the high RSI of 80, as per data from Glassnode.
- In the near term, analysts suggest that Ethereum's immediate focus is breaking the $2k threshold, given the accumulation trends and strong market dominance observed.
- On-chain data indicates that there is only modest resistance ahead for Ethereum, with the potential for a substantial move if the $1.860 sell wall is breached.
- The organic demand for Ethereum is growing noticeably, as sellers are almost absent in the market, outnumbered by buyers.
- Whales, who hold significant amounts of Ethereum, are showing signs of accumulation behavior, as indicated by a decrease in the ETH Large Holders Netflow to Exchange Netflow Ratio.
- To maintain the continued bullish setup, Ethereum must keep its price above $1.8k. If it can flip the $1,895 cost-basis cluster, where a large amount of ETH is concentrated, a clean run towards $2k is likely.
- While Ethereum's surge towards $2,000 is achievable in Q2 2025, longer-term forecasts project potential prices of $4,700–$5,960, but the immediate priority remains breaching the $2k threshold.
