Multiple reasons why Ethereum (ETH) price will break $2,000 next

Key points:

• Strong inflows of Ethereum ETFs indicate strong institutional demand.
• Ethereum's total locked value (TVL) reached US$51.8 billion, and weekly trading volume on decentralized exchanges (DEX) increased by 30%, showing the strong vitality of the network.
• The bull flag pattern target on the ETH four-hour chart is pointing to $2,100.

Ethereum prices rose to a new range high of $1,860 on April 28, the highest since April 2.

Several analysts believe that ETH price needs to be maintained above $1,800 to increase the chance of further increase.

"Once ETH confirms its four-hour closing above resistance ($1,800), ETH and other altcoins will finally have their glorious moment," trader Kiran Gadakh said in an April 29 platform X post.

“I can feel that $2,000 ETH is coming quickly.”

ETH/USD 12-hour chart. Source: Kiran Gadak

Analyst Nebraskangooner believes that if ETH faces rejection of high trading volume at the $1,800 level, it may fall back to test the support level of about $1,600.

Source: Nebraskangooner

Ethereum ETF demand picks up

Multiple data metrics indicate that Ethereum is expected to break $2,000 in the next few days or weeks.

One factor supporting the bullish trend of Ethereum is the recovery of institutional demand, reflected in significant capital inflows to spot Ethereum Exchange-traded funds (ETFs).

On April 28, the total net inflow of Ethereum ETF reached US$64.1 million. This is the highest level since February 2025 inflows reached US$151.7 million.

Net inflow of spot Ethereum ETFs. Source: SoSoValue

According to a report by CoinShares, net inflows of Ethereum investment products last week was $183 million, ending eight consecutive weeks of capital outflows, further driving the increase in institutional demand.

This trend reflects the growing confidence of traditional financial players, noting: Market analysts such as James Butterfill, head of research at CoinShares:

“We believe investors turn to digital assets because of concerns about the impact of tariffs on corporate earnings and the sharp depreciation of the dollar, which are seen as emerging safe havens.”

Institutional purchases continue to put pressure on Ethereum prices by absorbing available supplies.

Strong Ethereum on-chain activity returns

According to DefiLlama, Ethereum remains the undisputed top Layer-1 blockchain with a total lock-in value (TVL) on the network exceeding $51.8 billion. The following figure shows that Ethereum’s TVL has grown by about 16% in the past seven days.

Ethereum TVL and daily DEX trading volume. Source: DefiLlama

Aave performed particularly strongly in Ethereum deposits, with TVL rising 13.5% in seven days. Other projects with significant growth include Lido (12%), EigenLayer (13%) and Ether.fi (12%).

Compared to other top networks, Ethereum network far outperforms its competitors in terms of TVL growth within the daily and weekly time frames, with the exception of SUI, which has seen TVL growth of 47% in the past seven days.

Ethereum's daily DEX trading volume has increased by more than 30% in the past week to $1.65 billion. However, this figure is significantly lower than the 78% and 44% growth of SUI and Solana, respectively.

ETH price bull flag pattern pointing to US$2,100

Despite the rejection at $1,860, the ETH/USD pair still has a good chance to resume upward momentum as the chart shows a classic bullish pattern.

Ethereum's price trend over the past week has formed a bull flag pattern on the four-hour chart. On April 29, the four-hour candlestick chart closed above the border of $1,800 on the flag, suggesting the beginning of the upward trend.

The height of the flagpole sets the target, and Ethereum price is expected to rise to $2,100, about 15% of the current price increase.

ETH/USD four-hour chart with cattle flag shape. Source: Cointelegraph/TradingView

Another bullish indicator is the Relative Strength Index (RSI), which is currently moving within the positive zone of 60, indicating that market conditions are still favorable for the rise.

As Cointelegraph reports, the increase in demand from the $1700 region (20-day simple moving average) should provide a solid foundation for ETH prices to reach the $2110 level, possibly reaching $2500.

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