- Ethereum could return toward $4,000 if Glamsterdam launches smoothly.
- ETF demand and accumulation may support recovery through 2026.
Ethereum has struggled to regain its strength in 2026, leaving investors questioning whether the cryptocurrency can climb above $4,000 again. After reaching an all-time high of $4,946 in August 2025, Ethereum is now trading near $2,091, placing it nearly 57% below its peak.
For Ethereum to reclaim $4,000, the asset would need to almost double from current levels. While that may appear difficult, network developments, institutional demand, and improving fundamentals are keeping hopes alive for a recovery before the end of 2026.
Ethereum Has Faced a Tough Year
Ethereum entered 2026 near $3,100 before heavy selling pressure pushed prices lower. By February, ETH had fallen to around $1,743, marking its weakest level since early 2023.
Broader economic concerns affected financial markets during the first quarter, reducing appetite for risk assets. Ethereum also faced pressure after reports emerged of large ETH sales linked to co-founder Vitalik Buterin. Combined, those factors created one of Ethereum’s most challenging starts to a year in recent history.
While price performance has disappointed investors, on-chain data paints a stronger picture.
Nearly 30% of Ethereum’s circulating supply is now locked in staking. At the same time, long-term accumulation wallets have continued growing throughout the year. The difference between network growth and market price has strengthened arguments that Ethereum may currently be undervalued.
Glamsterdam Could Change Ethereum’s Direction
One major event could determine Ethereum’s path forward. Developers are preparing the Glamsterdam upgrade, currently targeted for June 2026, although some estimates suggest deployment could shift into the third quarter.
The update is expected to become Ethereum’s biggest execution-layer improvement since the Merge.
Several changes are expected from the upgrade:
- Lower gas fees by roughly 78.6%
- Faster transaction speeds reaching 10,000 transactions per second
- Improved block-building efficiency through ePBS technology
Lower costs and stronger network performance could improve Ethereum’s appeal to both retail and institutional investors.
Previous Ethereum upgrades have often influenced price activity. Market participants are watching closely to see whether Glamsterdam launches on time and performs without technical setbacks.
A smooth rollout could increase Ethereum’s chances of moving back toward $4,000.
Institutional Demand Continues Building
Institutional participation remains another major factor supporting Ethereum’s longer-term outlook.
Ethereum exchange-traded funds have attracted renewed investor attention during 2026. Stronger ETF demand creates buying pressure while growing staking participation removes available supply from the market.
Accumulation by larger holders has also increased steadily throughout the year.
Another development investors are monitoring involves BlackRock’s proposed staked Ethereum ETF product. If approved, the offering could attract investors seeking both Ethereum exposure and staking-related returns.
That combination may introduce fresh capital into the Ethereum ecosystem.
Ethereum Price Scenarios for 2026
Ethereum’s performance through the rest of 2026 could depend heavily on market conditions and the Glamsterdam rollout.
Bull Case: $5,000 to $7,500
If Glamsterdam launches on schedule, ETF inflows strengthen, and broader crypto markets improve, Ethereum could reclaim $4,000 during the second half of 2026.
Under stronger bullish conditions, ETH could finish the year between $5,000 and $7,500.
Base Case: $3,000 to $4,200
A more balanced outlook assumes slower ETF growth alongside gradual market improvement.
Under that scenario, Ethereum could move above $3,000 before challenging $4,000 closer to year-end.
Bear Case: $1,500 to $2,000
Delays to Glamsterdam, weaker economic conditions, or renewed selling pressure could slow recovery efforts.
If market conditions worsen, Ethereum may revisit lower support zones and delay a return to $4,000 until 2027.
Can Ethereum Reclaim $4,000?
Ethereum still faces major hurdles, but improving network activity and growing institutional participation continue to support long-term recovery expectations.
The biggest factor remains Glamsterdam.
If Ethereum successfully delivers its largest upgrade since the Merge while ETF demand continues strengthening, the path back toward $4,000 may become far more realistic before 2026 comes to an end.
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