Ethereum faces resistance at $4,000, but strong technical indicators and rising institutional demand suggest that ETH could soon enter a period of price discovery, potentially reaching up to $16,700. Since hitting a low of around $880 in June 2022, Ether's price has surged over 300%, forming various chart patterns indicating a possible breakout. Analysts predict a major upward movement could occur once ETH breaches the $4,000 resistance, with target projections suggesting a 350% rise from current levels. The favorable timing for this potential surge aligns with a significant bullish cross on the monthly Moving Average Convergence Divergence (MACD) indicator, suggesting substantial gains could follow if momentum grows. Institutional interest continues to rise, evidenced by $218 million in inflows into Ethereum investment products over 18 days, totaling over $5.3 billion since July 2. This influx of capital aims to address the supply-demand imbalance, given Ethereum's limited annual emission of 800,000 ETH. Overall, market sentiment is optimistic, highlighting an expected altseason and a significant bullish trend for Ethereum's price trajectory in the upcoming cycle.

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