Ethereum Surges 43% in 20 Days Driven by ETF Inflows

Ethereum's price has recently surged past $2,800, driven by growing market-wide optimism and significant inflows into Ethereum ETFs. The cryptocurrency has seen a remarkable 43% rise over the past 20 days, with this week alone contributing over 19% to that gain. This momentum follows Bitcoin’s impressive performance, as it recently reached a new all-time high, generating significant excitement across the entire altcoin sector.

Ethereum ETFs have seen over $700 million in inflows during the second week of July, the highest since December 2024. This level of momentum hasn’t been observed since December 2024, when Ethereum ETFs attracted over $830 million in the first week. The optimism surrounding Ethereum isn’t solely driven by ETF activity and Bitcoin’s rise; a combination of factors, including substantial institutional investments, is also at play.

Analyst Ted Pillows has predicted that Ethereum could reach $4,000. He believes that if the momentum continues on the daily chart, an Ethereum price rally to $4,000 is imminent. Pillows notes that Ethereum’s breakdown from a descending “Creek” and the subsequent flush-out marked the Spring phase. The aggressive reclamation of support suggests a bullish turn. Following the Spring, Ethereum bounced but faced rejection near $2,800, capping the short-term rally. The pullback acted as a successful “Test,” with the price respecting the Spring zone. This Test phase has now passed, and Ethereum appears poised to enter the markup phase, aiming for a breakout at $4,085.4 and potential expansion to $5,400.

Pillows further notes that Ethereum has entered Phase D of the Wyckoff model, where buyers begin to dominate consistently. This transition is contingent on Ethereum defending the $2,145.0 zone and sustaining higher weekly closes into Q3 2025. If Ethereum breaks past $3,800 with volume, it could trigger a sharp move through $4,085.4, initiating the Sign of Strength phase. Historical breakout behavior suggests that volume must increase on upward candles for validation. Ethereum’s structure remains technically intact, and with the price pressing higher, market participants await confirmation of strength.

Ethereum has printed key higher lows, which could fuel bullish continuation if resistance cracks cleanly. The cryptocurrency remains central to market sentiment, with breakout watchers closely monitoring this accumulation base. The next significant resistance levels are $4,085.4 and $5,400, which, if breached, could signal a full Sign of Strength move and potential further gains. A breakout above $2,700 could push Ethereum toward $3,000, with $4,000 in sight by Q3 2025. If this pattern plays out, Pillows sees a clear path: first a breakout to $3,000, followed by a healthy correction, and then a push to $4,000 sometime in Q3.