Ethereum, being the second-largest cryptocurrency by market cap, has often drawn a lot of attention as the next in line to replicate Bitcoin’s success. But despite Bitcoin rallying to new all-time highs, Ethereum has stayed below $5,000, unable to hit this major target. This has not deterred investors, however, with analysts still predicting that the Ethereum price will eventually beat the $5,000 mark and rally toward 5-figures in the end.
Why Ethereum Price Could Cross $5,000
Following the initial decline from the $4,900 high that was registered back in 2025, the Ethereum price was stuck in an accumulation range. This continued as the price decline deepened and Ethereum fell more than 50% from its all-time highs.
However, with the recent turn in the tide, it seems that the digital asset is now emerging out of this accumulation trend . Crypto analyst Javon Marks points this out in an analysis shared on the X (formerly Twitter) platform, showing how this could play out for the cryptocurrency.
Presently, the Ethereum price looks to be marking its support above $2,000, and this has set the stage for a bounce-off rally. According to the crypto analyst, this current trend suggests that Ethereum is actually breaking out of the accumulation trend. This, in turn, sets this digital asset on a course toward breaking $4,900.
The story doesn’t end there because Marks highlights that the implications of the Ethereum price breaking above $4,900 are very bearish. In the case of a break above this major resistance, then the crypto analyst sees the ETH price eventually rallying to $8,500 .
Bull patterns that hold in $ETH hints at a push towards the $4,900 levels again and that may only be part of prices exiting a huge accumulation phase.
Prices reach those levels and the next we’re looking at is above $8,500.
(Ethereum) https://t.co/Ik7znLXZQb
— JAVON
MARKS (@JavonTM1) March 17, 2026
Metrics Are Itching For A Surge
Besides the price, there has also been a major increase in the Ethereum open interest. Data from the Coinglass website shows a jump from around $25 billion last week to over $32 billion this week. It also coincides with the price increase, suggesting that investors may be coming back to the table.
Also, the daily trading volume is also on the rise , reaching over $89 billion earlier in the week. Following the correction, the daily volume has fallen, but remains above $50 billion, which also indicates a lot of interest coming back into the market. If this trend continues, then the ETH price could continue to surge, but with major resistance lying at $3,000 , it remains to be seen if bears will give up totally.
