A popular crypto market expert believes Ethereum could rally high in the coming months, citing adoption and technical patterns.
According to Altcoin Daily, Ethereum may rally to $5,600 by November, driven by strong institutional demand and historical post-halving performance. The crypto news outlet highlighted that Ethereum has not yet surpassed its all-time high but shows signs of building momentum.
In the video, the host cited Bitwise CIO Matt Hougan, noting that while August is historically one of the weakest months for crypto, it often sets the stage for substantial gains in the following months. They suggest any short-term dip could be seen as a buying opportunity ahead of a potential breakout in September through November.
Institutional Ethereum Adoption Surges
Altcoin Daily revealed that institutional buying of Ethereum continues to increase. The host cited Bitmine as the current largest ETH holder, 833,000 ETH worth over $3 billion, aiming to accumulate 5% of Ethereum’s total supply.
Other major holders include Sharplink at $1.62 billion with 438,200 ETH and the Ethereum Foundation with $863 million. Notably, the U.S. government ranks 12th in ETH holdings.
The report notes that public companies are actively buying Ethereum at what they believe are favorable price levels. The buying activity is described as part of a race among institutions to secure ETH before prices move higher.
Historic Trends Show August Gains for ETH
Ethereum’s performance in the months following a Bitcoin halving has historically been positive. Altcoin Daily quoted analyst Alek, noting that, on average, Ethereum gained more than 64.2% in August during these periods.
Despite currently trading below $4,000, Ethereum has faced resistance around $3,800 multiple times. If it breaks above this level, Altcoin Daily believes the price could follow previous breakout patterns that took ETH over $2,000. Applying that same pattern forward, ETH could potentially reach $5,600 by November.
Meanwhile, Benjamin Cowen had earlier highlighted a reason Ethereum has not crossed $4,000. Cowen noted ETH has failed to break this level three times since 2024 due to skipping a key support retest.
However, he noted that this changed in April 2025 when Ethereum dropped to $1,385, touching its 400-week moving average. After that, ETH surged 178%, now eyeing a breakout. Notably, Ethereum trades at $3,617, a 1.9% rise in the past day, increasing its monthly gain to 43.5%.
Chart Analysis Supports Ethereum Bullish Momentum
The video includes an analysis of Ethereum’s trading behavior, pointing to repeated resistance at around $3,800 and support near $2,200. Altcoin Daily suggests that Ethereum is forming a breakout pattern similar to earlier rallies.
The host cited analyst Ted, arguing that ETH is undervalued below $4,000, especially considering increased network activity and tightening supply. He made a comparison to assets like the S&P 500 and Bitcoin to show how assets tend to consolidate at resistance before breaking out.
Benjamin Cowen Cautions on Treasury Buying Narrative
While Altcoin Daily is optimistic, chart analyst Benjamin Cowen, speaking on Bankless, presented a more cautious perspective. He warned that the current ETH treasury trend could be pulling demand forward.
According to Cowen, while the surge in institutional buying may push Ethereum to new highs, it could also exhaust demand later, potentially triggering a market reversal.
Cowen also raised concerns about altcoin projects attempting to replicate Ethereum’s treasury accumulation strategy, which could lead to failures if not managed responsibly.
DisClamier: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
