Ethereum’s Bullish Breakout: ETF Inflows, BlackRock Investment, and Elliott Wave Analysis Point Towards $10,000 ETH Price Level

Ethereum (ETH) appears to be gearing up for a potential breakout, as the cryptocurrency’s price prediction shows promising signs of bullish momentum. This is supported by technical patterns and a noticeable increase in institutional investments, indicating that Ethereum could be on the cusp of significant growth.

A recent technical analysis of Ethereum’s current price action reveals a descending wedge pattern. A descending wedge typically emerges following a downtrend and is generally seen as a bullish pattern, suggesting a weakening in selling pressure that could lead to a potential reversal.

The pattern shows Ethereum’s price consolidating between two downward-sloping trendlines, forming a narrowing range. This type of price consolidation within a wedge often precedes a sharp breakout. A green arrow on the chart points upward, indicating an anticipated breakout in the near future.

However, a note of caution has been sounded by market analysts who are monitoring Ethereum’s movement near the upper trendline. A confirmed breakout above this line, particularly if it’s accompanied by higher trading volume, would validate the bullish setup. Yet, traders are warned to be on guard for potential false breakouts – instances where the price momentarily breaks above resistance but fails to sustain this.

Recent data from the Weekly Ethereum ETF Flow Trends chart gives further insight into investor behavior. Ethereum ETFs saw a total influx of $1.7 billion in April 2025, but with $1.9 billion in outflows, there was a net loss of $241.6 million. Despite this, the most recent weekly inflow is the largest recorded since February 2025, indicating renewed investor confidence.

Starting from April 2025, Ethereum ETFs experienced a period of fund outflows until investors began making large-scale asset deposits. This significant financial activity suggests a shift in institutional investors’ attitudes towards Ethereum. Analysts will continue to monitor weekly flow data to determine whether this growth pattern continues, potentially signalling a sustained market recovery.

Further bolstering investor confidence is news that BlackRock, one of the world’s largest asset management companies, has increased its Ethereum holdings to over $2 billion. This was achieved through an over-the-counter (OTC) transaction worth $54 million, marking BlackRock’s largest Ethereum purchase in the past two months.

Technical crypto analyst CryptoPatel’s Ethereum price prediction implies that ETH could be moving towards the $10,000 price level. This is based on the 1-2-3-4-5 Elliott Wave pattern that CryptoPatel believes is developing across Ethereum’s price movements. The Elliott Wave Theory suggests that market prices exhibit repeating wave movements which reflect the emotional behavior of investors.

CryptoPatel’s model indicates Ethereum could reach prices of up to $10,000, providing Wave 5 develops as expected. However, for this pattern to be validated under the Elliott Wave Theory, there must be specific retracement limits between the waves and certain rules must be met.

As large institutions like BlackRock continue to make substantial investments in Ethereum, alongside the strong technical market setups and increasing ETF inflows, confidence in the cryptocurrency is growing. The coming weeks and months will provide further clarity on whether this bullish momentum can be sustained.