Ethereum price has several reasons to break $2,000 next
Ether's (ETH) price reached $1,860 on April 28, the highest since April 2. Analysts suggest ETH must maintain above $1,800 to enhance chances of further gains, with predictions of a potential rise to $2,000. However, if rejected at $1,800, a drop to around $1,600 may occur. Institutional demand for Ethereum is increasing, evidenced by $64.1 million in net inflows into Ethereum ETFs on April 28 and $183 million into investment products last week, ending an eight-week outflow streak. Ethereum's total value locked (TVL) exceeds $51.8 billion, with significant weekly growth. Daily decentralized exchange volumes rose over 30% to $1.65 billion. A bullish pattern on the four-hour chart indicates potential upward movement, targeting $2,100. The relative strength index supports positive market conditions, with demand around $1,700 expected to bolster ETH towards $2,110 and possibly $2,500.
