The Ethereum price prediction remains highly volatile as ETH trades near $4,425, narrowly avoiding a critical drop below $4,200 that could have triggered $600 million in liquidations. The $4,500 resistance level has become a key battleground, with bulls eyeing a breakout toward $4,800-$5,000 and bears watching for weakness that could cascade to $3,600.
Positive factors include whale accumulation and ETF optimism. Large holders (10,000-100,000 ETH) increased their collective holdings by over 450,000 ETH in the past week, continuing a trend that began in May. Exchange reserves declined by 260,000 ETH since September, indicating rising demand as investors move funds to private wallets. Corporate entities like BitMine Immersion and SharpLink Gaming added significant ETH holdings. Analysts maintain bullish targets of $7,000-$7,500, with some suggesting $11,000 is possible if momentum continues.
Negative pressures persist from macroeconomic uncertainties and mixed technical signals. Active addresses and transaction counts have declined, indicating reduced on-chain activity. ETH futures net taker volume hit a record low, showing more traders are betting on price declines. The Relative Strength Index moves horizontally near its midline, while the Stochastic Oscillator indicates mildly bearish momentum. Small-scale holders (100-10,000 ETH) distributed over 500,000 ETH in the past week, suggesting profit-taking at current levels.
The Ethereum price forecast remains balanced between these forces. A clean break above $4,500 could push ETH toward $4,800-$5,000, while losing the $4,200 support could trigger a drop to $4,000 or even $3,600. The outcome depends on ETF developments, DeFi growth, and broader market sentiment.
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