Bybit, the world’s second-largest cryptocurrency exchange by trading volume, released its latest Crypto Insights Report analyzing Ethereum (ETH) and shedding light on key technical levels, institutional trends, and potential market drivers. ETH currently trades around $4,218 after a rally that pushed it close to its all-time high of $4,867, boasting a year-to-date gain of 63%. As the second largest cryptocurrency by market cap, ETH continues to outperform broader markets, raising questions about its future trajectory. The report highlights critical technical levels for ETH: resistance at $4,867, a target zone of $5,000-$5,500 and an anticipated upward projection spanning from $6,700 to $10,000 based on ETH/BTC performance and broader market conditions. Analyzing institutional demand, the report suggests that declining exchange reserves signal a potential supply squeeze which could propel ETH prices upwards, Further bolstering ETH’s position is the growing wave of institutional investment, as seen by notable purchases from corporations like Bitmine Immersion Technologies and SharpLink Gaming during market dips. Institutional activity has contributed to a steady decline in centralized exchange reserves. This shrinking supply on exchanges reinforces Ethereum’s value as a strategic asset and contributes to potential price spikes triggered by increased demand.