Ethereum Targets $6,000 Breakthrough... Rally Expected Amid Supply Shortage and Institutional Buying

▲ Ethereum (ETH)

Ethereum (ETH) is targeting a breakthrough of $6,000, buoyed by positive trends in three key indicators. A supply shortage and increasing institutional demand are strongly supporting the price increase.

According to Cointelegraph on April 23 (local time), Ethereum is currently showing technical patterns that suggest it's approaching an all-time high. On the weekly chart, the Moving Average Convergence Divergence (MACD) index recorded a golden cross, confirming a bottom signal. In the past, when similar patterns appeared, prices surged by up to 260%. The Relative Strength Index (RSI) is also recovering from the oversold zone, accumulating strong rebound energy.

Data on the supply side is even more optimistic. The amount of Ethereum moving out of exchanges recently hit a seven-month high. A CryptoQuant analyst diagnosed, "Buying addresses are outpacing selling-ready addresses, signaling the onset of a supply shock." Whale investors are absorbing exchange liquidity and moving it to personal wallets, significantly reducing selling pressure in the market.

The recovery in demand from U.S. institutional investors is also noteworthy. The Coinbase Premium Index turned positive, soaring to its highest level since October 2025. This indicates aggressive buying by institutions in the U.S. market. Ethereum spot ETFs recorded net inflows for 10 consecutive days, attracting a total of $590 million. This capital flow is similar to the period of a 95% increase in Q4 2024.

Bitmain Immersion Technology, the world's largest public holder of Ethereum, recently purchased an additional 101,627 ETH. This is evidence that institutional investors are designating Ethereum as a long-term store of value and increasing their holdings. In the futures market, buying volume has also surpassed $5 billion, signaling a victory for bullish investors.

Ethereum is currently maintaining a strong upward trend towards the symbolic target price of $6,000. Technical analysis, on-chain data, and institutional supply/demand all point to an upward curve. The prevailing assessment is that all conditions are in place for a historical new high.

*Disclaimer: This article is for investment reference only, and we are not responsible for any investment losses based on it. The content should be interpreted for informational purposes only.*