Ethereum News Today: Ethereum's 3-Year Stagnation Breaks as Institutional Adoption Ignites Bull Run

Ethereum's price has shown signs of a potential recovery, with technical indicators and on-chain metrics suggesting upward momentum. After breaking above a six-month descending trendline at $1,600 in late April, Ether (ETH) has seen its 50-day simple moving average (SMA) at $1,775 act as immediate support. The relative strength index (RSI) has surged from 56 to 66 in 24 hours, signaling growing bullish momentum. Analysts highlight key resistance levels at $2,100 and $2,800, with a successful breakout potentially targeting the $3,000 psychological level Ethereum Price Finally ‘Breaking Out,’ Data Suggests^[1].

Ethereum's total value locked (TVL) has risen sharply, from $44.5 billion on April 9 to $52.8 billion by May 8-a 41% increase in 30 days. Daily transaction counts have also grown by 22% to 1.34 million, reflecting improved network activity. However, Ethereum's fee revenue has declined by 95% year-to-date, which may slow its path to $3,000. Meanwhile, US-listed spot Ether ETFs recorded $39.7 million in net outflows between May 5–7, contrasting with Bitcoin's $482 million inflows, raising concerns about ETH's recovery trajectory Ethereum Price Finally ‘Breaking Out,’ Data Suggests^[1].

Institutional demand has bolstered Ethereum's outlook. Grayscale's launch of spot staking ETFs and BitMine's $820 million ETH purchase have increased institutional exposure. Technical analysts project a potential rise to $7,331 if ETH maintains support above $4,600, with a shorter-term target of $4,930 as the asset trades in a rising parallel channel Ethereum Price Prediction: ETH Targets $4,930 as Institutional Flows Fuel Next Rally^[2]. CoinGape analysts note a structural shift after 1,146 days of consolidation, with institutional adoption and liquidity growth driving the next bull run Ethereum Price Prediction: ETH Targets $4,930 as Institutional Flows Fuel Next Rally^[2].

However, Kerrisdale Capital recently shorted BitMine Immersion (BMNR), a major Ethereum treasury firm, citing an outdated business model. The firm criticized BitMine's strategy of issuing shares at a premium to buy ETH, arguing that market conditions no longer support such a model. BitMine's stock, which surged from $5 to $100 after its ETH treasury pivot, has since declined to $58, with Kerrisdale attributing the drop to investor fatigue from $170 million in daily stock issuance and opaque disclosures .

Despite the short, Ethereum's long-term fundamentals remain robust. The network's transition to proof-of-stake, combined with DeFi growth and regulatory clarity, positions ETH as a key player in the crypto ecosystem. While forecasts vary, with 2025 targets ranging from $4,010 to $4,930, the interplay of technical strength, institutional adoption, and macroeconomic factors will likely shape its trajectory Ethereum Price Finally ‘Breaking Out,’ Data Suggests^[1]Ethereum Price Prediction: ETH Targets $4,930 as Institutional Flows Fuel Next Rally^[2].