Ethereum Price Eyes $8000 as Activity Peaks, BlackRock ETF Launch

Key Insights:

• Ethereum network activity reached a new all-time high, signaling strong fundamentals and possible undervaluation as the Ethereum price lags.
• The chart setup shows Ethereum price taking strong support at $2,150.
• Spot Ether ETFs recorded $85.2 million inflows, with BlackRock leading demand across both spot and staked Ethereum products.

Ethereum price is showing some strength on the weekly chart and is currently flirting around $2,200 levels.

Analysts are eyeing a major breakout that could set the stage for a rally to $8,000. On the other hand, inflows into spot Ether ETFs have picked up again, with BlackRock leading the way.

Ethereum Price Moves for A Mega Rally

Amid the broader crypto market rally, Ethereum price has been showing strength recently. The bulls have so far defended the support levels at $2,150.

Ted Pillows cited Coinglass’s liquidation map to highlight Ethereum’s liquidity cluster. He noted that the price is showing notable concentration around the $2,300 level.

According to the analyst, the $2,150 to $2,200 range is emerging as a key support zone. If this level holds, market makers could target the $2,300 liquidity area.

The setup indicates that holding support in the lower range could strengthen the chance of a short‑term move higher. Liquidity‑driven price action is beginning to develop around this level.

Another analyst, Crypto Patel, stated that growing market pessimism around Ethereum could signal a potential turning point.

Historically, such periods of negative outlook have been followed by strong Ethereum price rallies. He noted that once Ethereum begins a sustained upward move, momentum has historically accelerated quickly.

Crypto Patel suggested that Ethereum could surge if a breakout occurs. He projected a potential target range of $8,000 to $10,000 in the next major rally cycle.

Ethereum Network Activity Hits All-Time High

Blockchain analytics firm CryptoQuant reported that Ethereum network activity has reached a new all time high.

According to the firm, the 7 day simple moving average of Ethereum’s total transfer count has surpassed 1.3 million. The surge reflects growing network usage and increased ecosystem activity.

The firm noted that record transfer volumes indicate strong fundamental demand. Rising activity is likely driven by DeFi growth, Layer 2 scaling solutions, and expanding smart contract usage.

CryptoQuant also highlighted a bullish divergence between network activity and Ethereum price. While transfer counts are at record levels, Ethereum’s price remains near the $2,100 range, significantly below prior highs.

This gap suggests network value is growing faster and shows the potential undervaluation for ETH.

BlackRock Leads Ether ETF Inflows

Inflows into the US spot Ethereum ETFs have flipped into positive territory again on April 9. As per Farside Investors’ data, the net inflows across all Ether ETFs stood at $85.2 million. BlackRock Ether ETF (ETHA) was leading most of these flows.

On April 9, BlackRock’s spot Ethereum ETF posted net inflows of 41,075 ETH, valued at approximately $90.94 million. The fund also recorded $500 million in daily trading volume, indicating active investor participation.

Meanwhile, BlackRock’s staked Ethereum ETF, ETHB, saw net inflows of 6,174 ETH, worth about $13.67 million. The fund’s total holdings now stand at 223,786 ETH. Of the total holdings, 174,059 ETH is currently staked, while 49,727 ETH remains in liquid Ether.

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