Ethereum (ETH) Price Prediction: Will the depeg from Bitcoin drive it up to $3750 and maintain its 180-day peak?

Ethereum (ETH) short-term price has depegged from Bitcoin, with the Asian early session today (21) reporting at 3,750 USD, having reached a high of 3,822 USD last night. Ethereum has hit a 180-day peak of 3,671 USD, surging 152% from the March low, with ETF inflow reaching 720 million USD, targeting a breakout above 4,100 USD.

The latest round of upward momentum further strengthened in July, with ETH's monthly increase reaching a record 37%, primarily driven by historic institutional demand for spot ETFs, with a daily inflow of $720 million for spot ETFs.

ETH is currently trading well above all major moving averages and is approaching the key resistance zone of $4,000-4,200.

The institutional accumulation behind the Ethereum pump has already surpassed the Bitcoin ETF inflow, with BlackRock, Fidelity, and Grayscale investing billions of dollars into Ethereum products.

This shift in institutional preference provides fundamental support for technological breakthroughs, laying the groundwork for the potential acceleration of ETH.

Technical analysis indicates that Ethereum is approaching a historical turning point, with cycle patterns suggesting that the most explosive phase may still be ahead.

Breakthrough of the ascending channel target at $4,100

The 4-hour chart of Ethereum shows that it is steadily moving through a clear ascending channel, continuously building momentum since the March low.

ETH is currently testing the upper limit around $3,700 to $3,800, and the trading price is far above all exponential moving averages in a bullish trend.

This positioning indicates strong potential momentum, with pullbacks likely to find support at progressively higher levels.

The RSI reading is 78.54, indicating strong momentum approaching overbought conditions, but the institutional ETF flows provide fundamental support for the ongoing rise.

The forecast above $4,100 is based on the measured trend of the channel breakout, combined with resistance levels consistent with previous cycle highs.

The inflow of ETF exceeding that of Bitcoin indicates that institutional preference is shifting towards Ethereum, with several listed companies also expanding their treasury to cover ETH.

(Source: Trading View)

Cycle analysis indicates that an explosive phase is approaching in the future

Ethereum is approaching a major resistance level around 4,000 to 4,200 USD, and it must break through that resistance to confirm the start of a new bull market cycle.

Breaking through this "strong high point" resistance zone could trigger what analysts call the "most explosive part of the cycle."

Market structure analysis indicates that ETH has successfully reclaimed several intermediate levels as it approaches the final major obstacle.

Cycle comparative analysis provides a more compelling long-term outlook.

Although Bitcoin is 1,949% higher than its macro fundamentals, approaching the upper expansion zone of momentum shifting towards altcoins in the previous cycle, Ethereum's 961% is still significantly lower during its expansion phase.

(Source: X, Trading View)

Historical patterns also indicate that Bitcoin usually consolidates at similar levels, while Ethereum enters a rapid growth phase.

Current positioning indicates that a turning point may be approaching further, with Bitcoin showing signs of slowing down.

At the same time, Ethereum is gearing up for an expansion phase, aiming to achieve cycle parity and potential parabolic progress.