Ethereum pushes past key resistance

In the July webinar, a subscriber asked what would get us excited about Ethereum, and I noted that a breakout above $4,000 would likely spark a bullish scenario. On Friday, Ether closed above this critical level, registering a new 252-day high, the first such milestone in six months. 

A bullish breakout

Although the sample size is small, as is typical with cryptocurrencies, Ethereum's first 252-day high in at least six months has historically produced exceptional returns and win rates, with the notable exception of a false breakout in December 2024.

If history rhymes, Ethereum should make a run at the all-time high around 4800. 

A more favorable environment

The case for Ethereum has strengthened considerably with the launch of spot ETFs, which open the door to a much broader base of investors. Treasury strategies like Tom Lee's BitMine, which has amassed nearly $5 billion in Ethereum, further reinforce demand by removing large amounts of supply from circulation. This dynamic puts Ether in the same league as Bitcoin in one key respect: both now benefit from structural buying flows that can underpin price appreciation. The largest Ethereum ETF by AUM is the iShares Ethereum Trust (ETHA).