Ethereum (ETH) is up over 2% today, trading above $4,500 and hitting an intraday high of $4,558. The second-largest cryptocurrency by market cap is fueled by institutional inflows and improving sentiment. But Canary Capital CEO Steven McClurg is not impressed.
McClurg Dismisses Ethereum’s Momentum
Despite Ethereum’s strength, McClurg questioned its long-term viability, calling ETH an “older technology” overshadowed by faster and cheaper blockchains such as Solana and Sui. Notably, Canary Capital has avoided filing for an Ethereum ETF, despite pushing for ETFs tied to other altcoins like XRP, Hedera, CRO, and even a meme coin on Solana.
His skepticism contrasts sharply with bullish views across the market. Greg Magadini, Director of Derivatives at Amberdata, compared Ethereum’s developer ecosystem to the iPhone’s app platform, projecting ETH’s value relative to Bitcoin could rise significantly. If his outlook materializes, Ethereum (ETH) could rally to between $8,000 and $10,000, underscoring the divide among analysts.
ETF Inflows Power Institutional Demand
Ethereum’s price momentum has been strengthened by record-breaking institutional inflows. Spot ETH ETFs attracted over $3 billion in August 2025, surpassing Bitcoin ETFs over the same period.
Major institutions like Bitmine Immersion Technologies and Sharplink Gaming reportedly purchased more than 2 million ETH since June, driving ETH decisively above the $4,000 threshold.
Even traditional banks are turning more optimistic. Standard Chartered revised its ETH year-end forecast from $4,000 to $7,500, citing accelerating adoption trends. Meanwhile, Fundstrat’s Thomas Lee suggested ETH could eventually reach $15,000 as it strengthens its role in the digital economy.
Key drivers include:
- $3B inflows into Ethereum ETFs in August 2025.
- Standard Chartered revising ETH target to $7,500.
- Over 2M ETH accumulated by institutions since June.
Whale Activity and Technical Outlook
On-chain data got interesting when a whale unstaked 10,819 ETH ($20.6M) and transferred it to Kraken after 1.5 years. They made $2.48M in interest and added $18.2M to their portfolio.
While this could be short-term selling pressure, it’s also a sign of long-term confidence in Ethereum.
Technically, Ethereum price prediction is bullish as ETH is consolidating in an ascending channel around $4,557. Support at $4,435 (50-SMA) has held and buyers are stepping in on every dip. RSI is 57, momentum is building without overheating and MACD is looking for a bullish crossover.
Resistance is at $4,610, targets are $4,795 and $4,965 if bulls break higher. A dip under $4,435 could trigger a retest of $4,375 or $4,170.
Trade setup: Buy above $4,610 with stops under $4,435 for target $4,965. Conservative traders may wait for bullish candlestick confirmation like a hammer or engulfing pattern near support before entering.
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