Ethereum can rally to $5,900 in October – but ONLY IF…
Key Takeaways
Is Ethereum in a bullish or bearish pattern?
The upper-timeframe pattern is bullish, however the $4.7k area might act as a provide zone within the coming days, so merchants needs to be cautious.
How excessive can ETH go in October?
The $5.3k and $5.9k ranges had been possible value targets for October, particularly if the previous week’s bullish momentum can proceed.
Ethereum [ETH] rallied 9% final week, retesting the $4.1k stage as assist.
Robust onchain flows and a provide squeeze are considered among the main components powering the rally. With that, we noticed renewed institutional demand, mirrored in long-term bullish conviction.
The rising Complete Worth Locked (TVL) underlined Ethereum’s significance within the DeFi panorama. In the meantime, a authorities shutdown would possibly spur equities and crypto to rally within the coming days.
Ethereum value prediction bullish, however…
Supply: ETH/USDT on TradingView
On the weekly chart, the value motion of ETH was encouraging.
It had fashioned a provide zone on the $4.1k stage (orange), which had been unable to surpass from March 2024 until August 2025. In current weeks, ETH has transformed this zone into a requirement space.
ETH’s breakout to a brand new all-time excessive at $4,953 strengthened bullish conviction. The Relative Energy Index (RSI) stood at 63.30, confirming momentum remained in favor of consumers.
Nonetheless, the OBV flashed a warning signal.
It has been unable to kind a brand new excessive in comparison with March 2024, though the value has climbed previous $4.1k. This recommended some weak spot from consumers.
In brief, the inference is that Ethereum costs would possibly wrestle to climb to $5k or past except shopping for quantity grows additional.
Bears eye $4.5K zone, however consumers nonetheless maintain the sting
Supply: ETH/USDT on TradingView
On the each day timeframe, the drop beneath $4,060 (marked in yellow above) on the twenty fifth of September represented a change in market construction.
At press time, the $4,460-$4,720 space was a bearish order block that might reject ETH bulls.
Given the bullish construction on the weekly timeframe, swing merchants mustn’t rush to promote ETH on the $4,500 provide zone on the upper timeframe chart.
As a substitute, they will watch for a transfer previous $4.7k, or a retracement to $3.5k, to look to go lengthy.
The $3.9k stage was one other robust assist that might assist hold the Ethereum sellers at bay. Past $5,000, the $5.4k and $5.9k could be the subsequent bullish value targets based mostly on Fibonacci extension ranges.
Disclaimer: The knowledge introduced doesn’t represent monetary, funding, buying and selling, or different varieties of recommendation and is solely the author’s opinion
