Ethereum News Today: BlackRock's $103M Ethereum Buy Sparks $4,000 Hopes

BlackRock’s reported $103 million Ethereum purchase has sparked renewed optimism among cryptocurrency traders, with many speculating that the move could drive ETH toward the $4,000 level [1]. At the time of reporting, Ethereum is trading around $3,894, with a tight weekly range between $3,805 and $3,953, signaling a period of consolidation following recent volatility. The $4,000 level is seen as a key resistance point, both psychologically and technically [1].

The purchase, while not yet confirmed via regulatory filings, is being viewed as a significant institutional endorsement of Ethereum [1]. Market participants are interpreting BlackRock’s move as a sign of growing institutional confidence in the digital asset, with some analysts noting that the timing aligns with mounting speculation about a potential U.S. spot Ethereum ETF launch later this year. Large-scale institutional buying is often seen as a catalyst for broader market participation, potentially encouraging retail investors to follow suit [1].

From a technical perspective, Ethereum is showing signs of upward momentum. The Relative Strength Index (RSI) is near neutral territory, suggesting ETH has room to rise before hitting overbought conditions. Meanwhile, the Moving Average Convergence Divergence (MACD) is approaching a bullish crossover, indicating possible strengthening in the upward trend if buying pressure continues. Bollinger Bands also show ETH trading near the upper band, suggesting possible short-term resistance before a breakout could occur [1].

If Ethereum breaks above $4,000 with strong volume, the next targets are projected to be in the $4,150–$4,250 range. However, failure to break through the $4,000 level could see the price retest support levels, with $3,800 offering the first line of defense and $3,600 as a stronger support area if selling intensifies [1].

Beyond the BlackRock buy, Ethereum’s fundamentals continue to support long-term bullish sentiment. Rising decentralized finance (DeFi) activity and non-fungible token (NFT) volumes are contributing to sustained demand for ETH gas fees. On-chain metrics, such as active addresses and staking participation, also remain healthy, signaling ongoing user engagement [1].

According to analysts, the short-term outlook for Ethereum is positive. If bullish momentum from the BlackRock news holds, ETH could challenge and potentially break through $4,000 within the next one to two weeks. In the medium term, a confirmed breakout could push the price toward $4,250–$4,500, especially if ETF approval rumors gain traction. However, a bearish scenario remains if Ethereum fails to break $4,000, which could see the price drift back toward the $3,600 support zone [1].

BlackRock’s reported $103 million Ethereum purchase adds a new bullish layer to the market outlook for ETH. While the $4,000 resistance remains a formidable barrier, institutional interest combined with favorable technical indicators suggests the bulls have a fighting chance [1].

Source: [1] Ethereum Price Prediction: Can BlackRock’s $103M Buy Push ETH to $4,000? (https://cryptoticker.io/en/ethereum-price-prediction-can-blackrocks-dollar103m-buy-push-eth-to-dollar4000/)