Ethereum, the second-largest cryptocurrency by market cap, has long been eyed as a contender to follow Bitcoin’s surge. Even as Bitcoin reached new highs, Ethereum has remained below $5,000, failing to breach that key level. Analysts, however, still expect ETH to surpass $5,000 and potentially reach five-figure territory over time.
Why Ethereum Could Cross $5,000
After peaking near $4,900 in 2025, Ethereum entered an extended accumulation phase and plunged more than 50% from its highs. Recent price action suggests that the asset may be emerging from that range. Crypto analyst Javon Marks highlighted this on X (formerly Twitter), outlining a scenario that could push ETH higher.
Currently, Ethereum appears to be holding support above $2,000, setting up the potential for a rebound. Marks argues this movement signals a breakout from accumulation and could set ETH on a path back toward the $4,900 level. He warns that a decisive break above $4,900 would have bullish implications — potentially paving the way for a rally toward $8,500.
Quote from Javon Marks’ post:
“Bull patterns that hold in $ETH hints at a push towards the $4,900 levels again and that may only be part of prices exiting a huge accumulation phase. Prices reach those levels and the next we’re looking at is above $8,500.”
Metrics Point to Renewed Interest
On-chain and market metrics are also showing increased activity. Open interest for Ethereum futures jumped from roughly $25 billion last week to over $32 billion this week, according to Coinglass, coinciding with the recent price uptick. Daily trading volume climbed as well, reaching more than $89 billion earlier in the week and, after a correction, remaining above $50 billion — signs that investor interest is returning.
These flows could support further upside, though resistance remains. With a notable hurdle cited near $3,000, it’s uncertain whether bearish pressure will fully dissipate. If momentum holds and key resistance levels are cleared, the path toward $4,900 — and, per some analysts, toward $8,500 — becomes more plausible.
Featured image from Dall.E, chart from TradingView.com