Expert crypto trader Ali Martinez tipped an incoming Ethereum (ETH) price surge after recent upticks. This adds to the growing optimism for altcoins as on-chain metrics align for a long-term jump. ETH price is down 2.6% to $2,062 at the time of writing, wiping out last week’s bear trend.
Ali Martinez: ETH Trend From Bearish to Bullish
The trader known for popular crypto market trend statements wrote on X that signs are surfacing for an ETH jump. According to him, the recent uptick above $1,800 marks the basis for bulls toward another round of gains.
Initial buying signals coincided with the asset’s MVRV ratio falling below 0.8. This gave retail investors more confidence in the short-term direction. Notably, the MVRV ratio at this point is often referred to as the Generational Buy zone, although market conditions limited previous growth.
“From a technical standpoint, Ethereum $ETH appears to trade within a well-defined ascending triangle on the weekly chart. The recent move toward $1,800 served as a critical reaction point, aligning with the rising trendline of this multi-year structure.”
Furthermore, the SuperTrend indicator flipped bullish for the first time in 10 months, signaling upcoming activity. As expected, whales made a series of huge purchases, reinforcing earlier short-term estimates
With momentum on the bulls’ side, traders anticipate sustained inflows as the price crosses the $2k mark. On the flipside, Ethereum has remained unstable, with bears citing major risks, including macroeconomic factors.
Amid recent debates, Martinez identifies possible resistance levels at $2,356 and $2,647, which could act as catalysts if crossed. At this point, ETH bulls forecast a potential jump above $3,600, but it would depend on broader market conditions.
Several policy watchers added that for ETH to hit the mark, the total market cap must appear very bullish. Last year, the ETH price surged due to momentum from crypto treasury firms, leading to altcoin season suggestions. With corporate demand, assets hit multiple all-time highs not recorded in months, including Bitcoin’s historic $125k mark.
Although slight pressure is being felt, little inflow has been recorded this month compared to last year’s dominant levels. At press time, ETH trades have wiped out 30-day losses, turning them into 17% gains, while the total crypto market cap stands at $2.35 trillion, a 1.8% slump in 24 hours.
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ETH drops 0.56% in 15 minutes: Institutions’ ETF in-and-out flows and tightened on-chain liquidity dominate the market
From 17:45 to 18:00 (UTC) on 2026-04-19, the ETH price recorded a return of -0.56% within 15 minutes, closing in the 2294.03 - 2311.0 USDT range, with an amplitude of 0.73%. Heightened market volatility triggered increased short-term trading activity and boosted attention, while overall liquidity performance tightened.
The main driving force behind this unusual move is institutions’ short-term in-and-out flows of ETF funds and a lull in on-chain stablecoin activity. In early April, after the ETH spot ETF recorded a net inflow of $120.24 million over a short period, it quickly reversed to a net outflow of $64.61 million, indicating that institutional capital became more short-term and there was no signal of sustained accumulation. Meanwhile, on-chain USDT and USDC activity fell in tandem to an annual low; ETH’s short-term buying power was clearly insufficient, putting pressure on liquidity.
In addition, high-win-rate whales have been frequently shorting ETH and BTC since April 14, with related position sizes exceeding $25 million, further intensifying downward pressure in the short term. On the macro front, the Federal Reserve maintains high interest rates, the U.S. dollar remains strong, risk appetite has shifted to cautious, and some funds have flowed into traditional assets such as U.S. stocks. On-chain data shows that exchange reserves for ETH have fallen to the lowest level in nearly a decade, suggesting that long-term holders are actively shifting away from self-custody, further reducing market liquidity supply and amplifying price anomalies. Network conditions are stable; gas fees are operating at low levels, and on-chain transactions have not shown extreme spikes.
The risk of near-term fluctuations remains high. ETF fund flows, large on-chain transfers, stablecoin activity, and changes in whale positions will be key indicators to watch. If institutions step up selling or stablecoin outflows expand further, ETH price volatility may intensify. Please continue to monitor macro developments and on-chain liquidity changes, stay alert to the risk of sharp short-term volatility, and get more real-time updates.
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