Weekly forecast: Ethereum breaks $3,000, investors eye $4,000 amid bullish momentum
ETH rally fueled by ETFs, stablecoin growth, tokenization boom
At the end of the week, Ethereum finally crossed the long-awaited $3,000 mark, peaking above $3,040 before retreating to $2,930—giving up a 16% weekly gain for a 2% daily drop.
The main question on investors' minds: will ETH continue to push past $3,000 and retest its December 2024–February 2025 highs?
Anton Kharitonov, an analyst at Traders Union, believes that although ETH underperformed over the past couple of years, breaking a key resistance level could pave the way to new all-time highs. He also recommends watching ERC-20 tokens, which may follow ETH’s upward momentum.
According to AMB Crypto, a major catalyst was a recent Fidelity report that officially positioned ETH as a store of value and a hedge for preserving wealth.Fidelity compared blockchains to sovereign nations and their economies, noting that ETH is the most actively traded asset on exchanges and serves as a key lending asset.
“Ether is used to pay for all transactions on the Ethereum blockchain, regardless of transaction type… It can function both as a medium of exchange and a store of value,” the report stated.
ETH supporters called the report “bullish,” pointing to the asset’s undervaluation. With a market cap of $316 billion, some suggest ETH’s fair value could reach $100 trillion.
This Wall Street endorsement helped fuel sustained inflows into crypto ETFs, with around 127,000 ETH purchased during the week—107,000 of which went into BlackRock’s iShares Ethereum Trust (ETHA).
Stablecoins and tokenization boom
Fundstrat’s Tom Lee noted a growing institutional shift from Bitcoin to Ethereum, driven by the booming stablecoin and tokenization sectors.Ethereum currently dominates 50% of the stablecoin market and over 75% of tokenized U.S. treasuries. According to Bitwise, the tokenization market could grow 4,000x in the coming years, positioning ETH as a top investment vehicle.
Meanwhile, with BTC hitting new all-time highs, analyst Ken Tang (Chicken Genius) believes ETH could soon reach $4,000.
“We’re staying bullish through July. BTC is breaking new highs, ETH is approaching $4,000,” Tang said.
Adding to the bullish case is the sharp drop in ETH sent to exchanges in July, aligning with the price climb from $2,200 to $3,000.If low selling pressure continues, bulls may attempt another breakout next week. The next resistance zones are at $3,260–$3,500, the peaks from December 2024 to February 2025.
Ethereum daily chart, source: TradingView.
However, traders should also watch out for downside risk: ETH is currently trading above its 20-, 50-, 100-, and 200-day SMAs, and a correction could test the $2,800 support level—previously a key trading range in June and February–March 2025.
As we wrote, Ethereum price tests $3,000 as weekly breakout challenges long-term resistance trendline
