Ethereum (CRYPTO: ETH) could be setting up for a run toward $6,000 to $10,000 if it clears its long-standing $5,000 resistance as institutional adoption and evolution toward a “world computer” strengthen the long-term bull case, according to Milk Road analyst John Gillen.
Does ETH’s Road To $10,000 Start at $3,000?
Speaking on the Milk Road podcast, Gillen identified $2,500 as the key level Ethereum needed to reclaim and hold, arguing that acceptance above it puts $3,000 in focus.
From there, the bigger test comes around $5,000, an area Ethereum has struggled to sustainably break in previous cycles.
For a longer-term target over the next two years, John said he is directionally looking toward $10,000 to $12,000, while stressing that the outcome depends heavily on ETH’s ability to maintain its share of institutional and on-chain activity.
The analyst believes an Ethereum breakout could have implications well beyond as it serves as crypto’s largest "blue-chip" altcoin.
A sustained move above $5,000 could attract speculative capital into the broader altcoin market.
Bitcoin’s recent breakout above $83,000 and its 50-week moving average is evidence that bullish momentum has strengthened after months of consolidation.
However, he cautioned that the setup is not yet guaranteed.
How ETH’s “World Computer” Vision Is Strengthening
John also highlighted Ethereum co-founder Vitalik Buterin’s push to expand Ethereum beyond its role as a blockchain toward a broader decentralized "world computer."
The thesis is that ETH could increasingly provide computational, economic and security infrastructure for applications extending beyond basic blockchain transactions.
John argued that Ethereum’s development over the past five years is beginning to catch up with the ambitious expectations investors priced into ETH during earlier bull cycles.
He pointed to Ethereum’s transition from proof-of-work to proof-of-stake, continued network upgrades and growing institutional adoption across areas including stablecoins and tokenized assets.
The key question now is whether Ethereum can retain a large share of that activity as financial institutions move more assets on chain.
That could ultimately determine the difference between a $6,000, $12,000 or even higher ETH price.
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