Ethereum (ETH) is showing renewed bullish momentum as technical signals point toward a potential trend reversal. Improving market structure and sustained buying interest are strengthening expectations for further upside. Institutional accumulation is also supporting confidence, suggesting that continued demand could help ETH extend its recovery and establish a stronger bullish trend.
At the time of writing, ETH is trading at $2,438.92 with a 24-hour trading volume of $12.89 billion and a market capitalization of $294.48 billion. Despite the signs of stability over the last 24 hours, the ETH price structure and institutional accumulation point to a bullish reversal ahead.
Source: CoinMarketCap
Also Read: BitMine Holdings Adds 53,000 ETH as Ethereum Treasury Nears 6 Million
Ethereum Golden Cross Sparks $4,800 Rally Hopes
According to the crypto analyst Luca, Ethereum has formed its first golden cross since July 2025, giving traders a fresh bullish signal.
The pattern appears when the 50-day moving average rises above the 200-day average, often indicating improving momentum and a potential shift toward a sustained uptrend. Its emergence comes as market participants closely monitor ETH’s next major move again ahead.
Source: Luca’s X Post
Following the last golden cross, there was a rally of nearly 100% on Ethereum, creating hopes that history might repeat itself for the better.
If the altcoin repeats a similar feat at the current level, then it could potentially reach the level of $4,800. However, the historical precedent is not a sure thing, and continued buying momentum is essential.
Tom Lee’s BitMine Buys $126M Worth of Ethereum
The data from Lookonchain further highlighted that BitMine Immersion Technologies, headed by Tom Lee of Fundstrat, seems to be maintaining its relentless accumulation approach in respect to Ethereum.
Blockchain statistics indicate that the company has accumulated an additional 51,000 ETH worth around $126 million on crypto exchanges such as FalconX and BitGo.
Source: Lookonchain’s X Post
The recent trade has contributed towards the growing ETH hoard at BitMine and its larger strategy of acquiring a sizeable stake in Ethereum.
The aforementioned trade, although unconfirmed by BitMine as of yet, has attracted a lot of attention since the amount traded is rather large and investors watch if there will be any drop in supply of ETH because of this.
Despite the bullish price predictions and institutional accumulation, the ETH price is still moving in neutral territory. This move is also backed by the general trend in the crypto market as the BTC price has started to move sideways.
What Happens Next?
The next step for Ethereum is determined by how long the bulls can keep up their momentum and drive ETH above the critical resistance levels.
If there is more accumulation by institutions, it may support the price target of $4,800 and validate the bull trap. Otherwise, if the support fails or momentum is lost, consolidation may be seen before any recovery for Ethereum.
Also Read: Ethereum Price Eyes $2,783 After 32.8% August Rise
This article contains market analysis and price predictions. These are not guarantees. Crypto markets are volatile. Always DYOR. Not financial advice.
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