Ethereum Bulls Charge as $4,275 Breakout Looms
Ethereum, the world's second-largest cryptocurrency, is showing signs of a potential bullish reversal, with a decisive breakout above $4,275 on the horizon. This could mark its first clean reversal since mid-September, as institutional interest in Ethereum ETFs grows significantly.
The bullish sentiment is reflected in the long/short ratios across major exchanges, with Binance reporting a ratio of 1.8 and top traders showing even stronger conviction at 2.7. Notably, recent activity has seen $546.9 million flow into spot Ethereum ETFs on September 29, indicating substantial institutional interest. Fidelity and BlackRock have invested $202.2 million and $154 million respectively in Ethereum ETFs, contributing to the growing ETH treasury holdings, now valued at over 15 billion USD.
Price action analysis reveals a contracting triangle on the 4-hour chart, with immediate resistance between $4,230 and $4,275. A breakout above $4,300 could signal a structural shift, opening the path to higher targets such as $4,450, $4,800, and potentially the medium-term target of $5,766. Ethereum is currently trading around $4,191, recovering from a dip near $3,800.
Ethereum's recovery is supported by ETF inflows and institutional demand, suggesting it could test higher targets in the coming weeks. With a decisive breakout above $4,275, Ethereum could enter a new bullish phase, driven by growing institutional confidence in the cryptocurrency.
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