- Ethereum eyes $10K target as institutional demand and bullish momentum align
- Positive MACD crossover and RSI above 70 suggest strong upward price pressure
- Persistent ETH outflows signal long-term holder confidence despite brief inflow spikes
Ethereum (ETH) continues to gain traction as its price climbs toward $2,730, showing renewed strength in the market. After a sharp recovery from its March low near $1,500, Ethereum is showing signs of a potential long-term breakout.
The market’s attention has shifted toward ETH, driven by growing institutional interest and improving technical indicators. According to analyst borovik.sol, Ethereum could target $10,000 if bullish momentum continues and critical resistance levels are breached.
Bullish Indicators and Institutional Demand
Borovik.sol data indicates suggests SharpLink’s recent $425 million Ethereum purchase has caught significant attention. This move has drawn comparisons to Michael Saylor’s Bitcoin advocacy, with many now calling this Ethereum’s own “Saylor moment.” This level of institutional conviction could help shape a new narrative for ETH over the next cycle.
ETH IS AT $2,600 RIGHT NOW
— borovik.sol (@3orovik) May 29, 2025
I THINK ETH IS GOING TO $10,000
Ethereum has its own Saylor now
SharpLink bought $425 MILLION ETH pic.twitter.com/BDL33ZUXls
The price of Ethereum currently sits at $2,727.79, with a 24-hour trading volume exceeding $26 billion. This marks a 3.60% gain in the past day and 3.64% over the week.
The technical outlook remains encouraging. The MACD shows a positive crossover, with the MACD line now above the signal line. The histogram is green, reinforcing the case for upward price movement.
Additionally, the Relative Strength Index (RSI) stands at 71.16. While this is slightly above the overbought threshold of 70, it suggests strong buying momentum. However, it may also lead to short-term profit-taking or a brief pullback before continuation.
On-Chain Flows Suggest Renewed Accumulation
From August 2023 to May 2025, ETH spot netflow data shows persistent outflows dominating inflows. This trend reflects long-term holders removing ETH from exchanges, likely for cold storage. Red bars dominate the chart, especially in late 2023 and early 2024, signaling aggressive accumulation.
However, there are key inflow spikes during market rallies, especially in November and April. As of May 29, 2025, Ethereum shows a net inflow of $16.10 million, hinting at potential accumulation ahead of a bullish move.
