Why Analysts Are Turning Bullish on Ethereum and These Altcoins
Wall Street momentum, technical patterns, and selective token flows power a new wave of crypto optimism.
Ethereum (ETHUSD) sits at the center of an accelerating bullish narrative that’s now drawing in both institutional players and retail traders. Analysts across the board are starting to shift their tone from cautious optimism to full-on bullishness, not just on Ethereum, but on altcoins more broadly.
ETH currently trades at around $3,805, up 3.6% on the day, and analysts are watching closely as the world’s second-largest cryptocurrency prepares to test a key long-term resistance level. If it breaks through, it could ignite what many see as the early innings of an altcoin season.
Dan Gambardello, a widely followed crypto analyst, describes the moment as pivotal. He noted Ethereum’s technical position is a classic “busted pattern,” with ETH now re-approaching its long-term trendline from the last bull cycle. Gambardello believes that if ETH can break through the current near-term resistance at around $3,800, it could be a clean shot toward $4,100.
ALTCOINS Locked & Loaded! ETHEREUM POWER MOVE Builds (A WARNING)
Intro 00:00
Altcoin setup this month 1:30
Altcoin bull move 2:40
ETH cycle looks awesome 4:30
Ethereum dip in play 7:15 pic.twitter.com/jSVioHfPPP— Dan Gambardello (@cryptorecruitr) August 4, 2025
But this isn’t just about chart patterns. Underneath the surface, structural forces are aligning.
Ethereum Treasury Firms Challenge ETF Dominance
One of the most powerful undercurrents pushing Ethereum higher is the rise of ETH treasury firms, public companies that hold Ethereum as part of their corporate strategy, much like Strategy (NASDAQ: MSTR) did with Bitcoin (BTCUSD).
Standard Chartered’s global head of digital assets research, Geoffrey Kendrick, sees these firms as a breakout asset class, stating:
The NAV multiples (market cap divided by value of ETH held) have now also started to normalize for the ETH treasury companies, [making them] now very investable for investors seeking access to ETH price appreciation.
Two of the top players in this trend, BitMine Immersion (NYSE American: BMNR) and SharpLink Gaming (NASDAQ: SBET), have both aggressively accumulated ETH since June. BitMine alone has picked up 833,000 ETH, worth around $3 billion, in less than a month.
Tom Lee, co-founder of Fundstrat and now a backer of BitMine, believes ETH is in the early phase of a transformative run. Speaking on the Bankless podcast, Lee said Ethereum is having its “2017 Bitcoin moment,” adding that BitMine aims to accumulate 5% of all ETH supply. Lee pegs ETH’s upside between $7,000 and $15,000 by year-end.
Source: Bankless YouTube
Kendrick echoed this sentiment, pointing out that ETH treasury firms now hold 1.6% of all ETH in circulation, on par with U.S.-listed spot ETH ETFs, but with the added benefits of staking yield and DeFi exposure.
Selective Altcoin Flows Signal a Smarter Rotation
While Ethereum leads the charge, other altcoins are beginning to attract focused capital inflows, though not across the board. This isn’t your 2021-style frenzy. Instead, analysts describe it as a “selective altseason.”
Solana (SOLUSD) is up 3.1%, trading at $173.25, while Binance (BNBUSD), XRP (XRPUSD), and Cardano (ADAUSD) are also seeing traction. ADA, in particular, is attracting institutional interest due to its Hydra scaling solution and expanding stablecoin ecosystem.
Dogecoin (DOGEUSD) and Shiba Inu (SHIBUSD), the meme coin titans, are also playing distinct roles. DOGE, trading at $0.21, serves as a “liquidity anchor” for risk-on trading, with analysts pointing to possible resistance near $0.215. Meanwhile, SHIB continues to gain traction via its Layer-2 network Shibarium, along with a 600% jump in whale wallet growth.
The Altcoin Season Index currently sits at 37, signaling that Bitcoin is still leading the pack. Yet, this narrow band of altcoin strength is precisely what excites analysts looking for smarter, more structured rotation.
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Wall Street, AI, and DeFi Collide on Ethereum
Ethereum’s resurgence is also being fueled by a convergence of Wall Street, artificial intelligence, and decentralized finance. Coinbase’s (NASDAQ: COIN) Base Layer-2, Robinhood’s (NASDAQ: HOOD) new Ethereum-based rollup, and the continued adoption of USD Coin (USDCUSD) on Ethereum are key infrastructure developments that support this narrative.
Tom Lee believes this trifecta changes the game. Lee sees Ethereum becoming the legally compliant, yield-generating blockchain favored by traditional finance. In his view, ETH offers not just upside potential but also structural yield through staking, giving it a significant advantage over Bitcoin’s store-of-value-only role.
Standard Chartered is holding firm on its $4,000 year-end price target for ETH. Meanwhile, broader market data supports the sentiment. The total crypto market cap sits at $3.83 trillion, with daily trading volume at $139.93 billion. The Fear and Greed Index holds neutral at 55, signaling room for sentiment to expand.
With both ETH and its orbit of altcoins showing technical strength, rising institutional adoption, and real-world infrastructure integration, analysts are positioning Ethereum as the catalyst for the next phase of crypto’s bull market.
Conclusion: The Quiet Build Before the Breakout
From BitMine’s ETH accumulation spree to SharpLink’s NAV normalization, the signs are clear: Ethereum is no longer a speculative bet, but an investable infrastructure layer. Altcoins like SOL, XRP, ADA, BNB, DOGE, and SHIB are no longer just side bets; they’re forming distinct narratives supported by liquidity, utility, and institutional interest.
This isn’t a frothy surge driven by hype. It’s a deliberate, chart-backed, capital-structured rally. Whether a full-blown altcoin season erupts or not, the stage is set, and the smart money is already moving.
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