Ethereum metrics signal ETH price to $6K next
Ether's (ETH) 33% rally below $1,800 appears to be faltering, but several key indicators suggest the top altcoin could record a major rally to $6,000 or higher.
Main Receptors:
Ether is currently showing a technical setup similar to previous cycles that fueled a huge rally in ETH price. The potential for supply compression is growing as inventory increases and exchange flows immediately reduce sales pressure.
Ether Fractal has a price target of 6,000 ETH
Ether is currently retracing the multi-year trend line that marked the macro ETH price rise. The previous events in April 2025 and mid-2022 resulted in 260% and 130% ETH price rallies.
“$ETH holds long-term uptrend support,” analyst Cryptojack said in a recent X post.
“Does history repeat itself?”
ETH/USD Weekly Chart. Source: Cointelegraph/TradingView
A large cross from the moving average converging divergence (MACD) indicator confirmed that the price is bearish.
“$ETH weekly MACD bullish cross is now confirmed,” analyst Ash Crypt said in a recent X post:
The last 2 times this happened, ETH rose 183% and 75%.
The weekly RSI, on the other hand, is recovering from the levels that hit the previous macro lows, suggesting that Ether's recent lows near $1,750 are likely.
ETH/USD Weekly Chart. Source: The Moon Show
Ether's current price action is following a similar pattern, with price again breaking the same structural support, a confirmed bullish MACD crossover, and RSI recovering from oversold conditions.
If history repeats itself, ETH could rally between 75% and 260% below, placing Ether's upside target at $3,000-$6,300.
ETH supply compression increases the potential
Ethereum's on-chain metrics show supply volatility, a phenomenon that has fueled significant ETH price rallies in the past.
Binance ERC-20: Stablecoin Whale Activity Index Shows Structural Supply Weakness
As the chart below shows, daily storage addresses (wallets that continuously buy ETH) rose to 2,434, which is more than the number of currency booking addresses (wallets that are ready to sell), which dropped to 2,300.
This shift suggests that the big players have moved from a “wait and see” phase to active stockpiling, CryptoQuant analyst GugaOnChain said in a recent QuickTake analysis.
“This situation is extremely positive for the price structure, as it shows that there are far fewer addresses sending ETH to the exchange with the intention of selling,” the analyst added.
A supply shock is in full swing.
Binance ERC-20 stablecoin well activity index. Source: CryptoQuant
This, according to Glassnode data, shows that the net position change of ETH between exchanges over the past 30 days decreased by 1.4 million ETH on April 2, the largest increase in seven months, and also shows increasing exchange flow.
The net position change is -351,300 ETH (30 days) at the time of writing on Thursday.
ETH: exchange net position change. Source: Glassnode
Such flows often indicate strong accumulation by large owners.
This is often referred to as a “supply squeeze,” as historically, upside moves have occurred earlier, especially when coupled with improving market sentiment.
Interest in Ethereum is back
As reported by Cointelegraph, Ether futures on Binance rose to an almost two-month high as aggressive buyers entered the market in the past week. The amount purchased has increased to more than $5 billion, and the current setup is very promising.
The US market is driving the lion's share of this demand as measured by the Coinbase Premium Index.
The ETH Coinbase Premium Index measures the price difference between the ETH/USD pair between Coinbase and Binance.
This indicator turned positive on April 4, rising to 0.055 on April 14, the highest level since October 2025. The index fell to -0.21 in early February and has now recovered to 0.04.
This shows the increased interest from institutional investors, especially in the US market.
Ethereum Coinbase Premium Index. Source: CryptoQuant
Meanwhile, spot Ethereum ETFs have recorded 10 consecutive days of net inflows, totaling $590 million. This marks the longest revenue stream since December 2024 with 95% of ETH price rally in Q4 2024.
Spot Ethereum ETF flow chart. Source: SoSoValue
Meanwhile, Bitmain Immersion Technologies, the world's largest public holder of Ether, last week increased its holdings by buying another 101,627 ETH, indicating a return of interest in ETH among institutional investors.
