Ethereum, being the second largest cryptocurrency by market capitalization, has often attracted a lot of attention as the next in line to replicate Bitcoin’s success. However, despite Bitcoin rising to fresh all-time highs, Ethereum remained below $5,000, unable to achieve this primary target. This hasn’t discouraged investors, however, as analysts continue to predict that Ethereum’s price will eventually break the $5,000 mark and eventually surge into the 5-digit range.

Why Ethereum Price Could Surpass $5,000

After initially falling from a high of $4,900 recorded in 2025, Ethereum’s price is stuck in an accumulation range. This continued as the price decline deepened, with Ethereum falling more than 50% from its all-time highs.

However, given the recent turnaround, it seems the digital asset is it is currently emerging from the trend of accumulation. Crypto analyst Javon Marks highlights this in an analysis shared on X (formerly Twitter), showing how it could impact the cryptocurrency.

Currently, it looks like Ethereum price is marking support above $2,000, and it has set the stage for a rebound rally. According to the cryptocurrency analyst, this current trend suggests that Ethereum is actually breaking away from the accumulation trend. This, in turn, puts the digital asset on course towards crossing $4,900.

The story doesn’t end there, as Marks emphasizes that the consequences of Ethereum breaking above $4,900 are very bearish. If this major resistance is broken, the cryptocurrency analyst sees the ETH price eventually rising to $8,500.

Bull patterns that are holding $ETH indicates a renewed push towards the $4,900 level, which may just be part of prices emerging from the massive accumulation phase.

Prices are reaching that level and the next one we’re looking at is over $8,500.

(Ethereum) https://t.co/Ik7znLXZQb

— JAVON⚡️MARKS (@JavonTM1) March 17, 2026

Indicators are waiting for a keen boost

In addition to the price, there has also been a significant boost in interest in open Ethereum cryptocurrencies. Data from Coinglass website can be seen jumping from about $25 billion last week to more than $32 billion this week. This also coincides with an boost in prices, suggesting investors may be back at the table.

Also, daily trading volume is also increasingreaching over $89 billion at the beginning of the week. After the correction, daily volume has declined but remains above $50 billion, which also indicates a powerful return of interest to the market. If this trend continues, the price of ETH could continue to rise, but with major resistance at $3,000, it remains to be seen whether the bears will give up completely.

Featured image from Dall.E, chart from TradingView.com