18.08.2025 tarihinde sembol ETH hakkında Teknik Swissquote analizi

1) Institutional investors have driven ETH/USD higher since the start of the summer via US spot ETFs The price of ETH/USD has more than doubled since the start of the summer on the crypto-currency market, in a phase of powerful relative catch-up with the price of bitcoin and an Ether token that is now close to its all-time record. This catch-up phase of the Ether token relative to BTC has been forged on a very healthy fundamental factor: institutional demand. In fact, it is institutional investors who have driven this sharp rise in the price of Ether, with an explosion in inflows to US spot ETFs on Ethereum. Indeed, it's a given that the bulk of demand via BTC and ETH spot ETFs comes from institutional investors. Ethereum's underlying uptrend is therefore based on a sound fundamental foundation. The table below, taken from the Coinglass website, shows inflows and outflows on US spot ETFs on ETH 2) The Ether token is outperforming the bitcoin price, as shown by the technical analysis of the ETH/BTC ratio, and this should continue until the end of the cycle The second aspect in Ethereum's favor is the sequence of outperformance against ETH on BTC. This is the lesson of the bullish message from technical analysis applied to the ETH/BTC ratio. The latter has turned upwards from a major support level, and the technical upside potential remains significant for the coming months. The chart below shows weekly Japanese candlesticks for the ratio between Ethereum and Bitcoin 3) ETH/USD will pause below its all-time high of $4900 (that of the previous cycle), but should be able to move beyond it by the end of the cycle The price of ETH/USD has reached its all-time high of $4850 in autumn 2021, the peak of the previous cycle. It's only logical that the market should start to stall and retrace to consolidate the rise since early summer. The market could develop a range phase between support at $4,000 and resistance at $4,850, before later being able to resume its fundamental uptrend. Historically, the Ether token cycle ends two to three weeks after the end of the BTC bull cycle, so it's likely that ETH/USD will be able to exceed its all-time high in the fourth quarter of this year 2025. The chart below outlines theoretical targets if and only if the all-time high of $4850 is broken by the market. Invalidation if major support at $4,000 is broken. The chart below shows weekly Japanese candlesticks for the ETH/USD rate DISCLAIMER: This content is intended for individuals who are familiar with financial markets and instruments and is for information purposes only. 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