Traders say Ethereum ready for a 'strong move' after ETH price taps $2.3K

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Traders say Ethereum ready for a 'strong move' after ETH price taps $2.3K Market analysts eye fresh Ethereum upside, fueled by JPMorgan and BlackRock tokenized fund moves plus looming CLARITY Act catalyst. Market analysts said Ether (ETH) was ready to continue its uptrend following moves by JPMorgan and BlackRock to launch tokenized funds on the Ethereum network. Key takeaways: - Institutional adoption is underway as JPMorgan and BlackRock plan to launch tokenized funds on Ethereum. - Strong technical structures in multiple time frames suggest ETH price is bottoming out. ETH traders anticipate the price to “outperform” Data from TradingView showed ETH/USD trading at $2,320, up 2% over the last 24 hours. The pair failed to crack through resistance at $2,400 last week, as spot Ether exchange-traded fund (ETF) outflows and rising balance on Binance derailed Ether’s recovery. As such, bulls must push and hold the ETH/USD pair above $2,400 to continue the uptrend. In a Wednesday post on X, analyst CryptoJack said ETH is “getting ready for a pump” as it consolidates inside a symmetrical triangle on lower time frames. “A breakout could lead to a strong move soon.” ETH/USD chart. Source: X/CryptoJack Crypto Patel’s chart shows ETH trading inside an ascending triangle that has guided its price action since 2020. ETH is bouncing off the triangle’s lower trendline around $1,800, a zone that previously acted as a launchpad for large upside moves. The analyst sets the upside target for Ether at $10,000-$15,000, saying: “$ETH will outperform this cycle.” ETH/USD two-week chart. Source: X/Crypto Patel Fellow crypto analyst Celal Kucuker also shared a bullish argument, laying out a long-term roadmap that places ETH on course for a possible move above $24,000. ETH/USD one-month chart. Source: X/Celal Kucuker Momentum indicators support the rebound thesis. Ether’s monthly relative strength index (RSI) has cooled toward a historical support area near 42-455, similar to levels that preceded past rallies. As Cointelegraph reported, buyers will be back in control once the ETH/USD pair breaks above the $2,450-$2,600, confirming a trend shift. Institutional adoption fuels Ether’s bullishness As Cointelegraph reported, JPMorgan is set to launch a tokenized money market fund on Ethereum, allowing stablecoin issuers to hold reserves backing their stablecoins while earning interest. Related: Bitmine slows Ethereum buys, targets December to own 5% of supply BlackRock, the world's largest asset manager, has also filed for tokenized versions of its Treasury liquidity funds, where official ownership records will be maintained on Ethereum using ERC-20 token standards. Source: Cointelegraph “Institutional adoption just hit another level,” analysts at Ethereum Daily said in a post on X on Wednesday. “This is the most bullish news for Ethereum,” X user Borovik said in a reaction to the news on Wednesday. Tokenized funds on Ethereum, bulls argue, will drive onchain activity, increase gas demand and total value locked (TVL). This will, in turn, boost the blockchain’s legitimacy, making ETH the preferred settlement layer for trillions in TradFi capital. Data from RWA.xyz shows that global tokenized funds already exceed $31 billion, with Ethereum dominating approximately 55% of the space. Total global RWA value. Source: RWA.xyz These were not the only bullish news for Ethereum. MN Capital founder Michael van de Poppe said that the approval of the CLARITY Act, which is scheduled for markup on Thursday, would be a “massive trigger for the markets.” Market analyst Ethprofit.eth said the CLARITY Act “looks extremely bullish for Ethereum,” while Bitcoin Mami said “institutional demand is going insane post CLARITY Act,” pushing ETH price to $10,000. Polymarket bettors are pricing in a 60% chance that the CLARITY Act will be signed into law in 2026, down 5% over the last 24 hours. Odds of the CLARITY Act being signed into law in 2026. Source: Polymarket If the CLARITY Act becomes law, Ether is expected to rally, as seen in July 2025, when the signing of the GENIUS Act into law preceded a 65% ETH price rise to its current all-time high of $4,950 from $3,000. More on the subject

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