Ethereum ($ETH) is currently trading at $4,466, holding above the critical 50-day SMA at $4,364. This level has acted as a solid support in recent weeks, with bulls preventing a deeper correction after the strong rally that peaked near $4,800.
ETH/USD 1- day chart - TradingView
The chart also shows ETH comfortably above its 200-day SMA at $2,881, reflecting a sustained bullish structure. Momentum remains neutral with the RSI hovering around 55, suggesting Ethereum is consolidating before its next move.
A look at Ethereum’s historical quarterly performance (Coinglass data) highlights an important pattern: Q4 has often delivered strong gains.
By contrast, Q1 tends to be highly volatile (+77.40% average but often negative in bear phases). The seasonal data suggests Q4 2025 could be another period of strong upside momentum if macro conditions align.
On-chain data reveals that Bitmine Digital has been aggressively accumulating Ethereum in recent days:
This level of institutional-scale purchasing signals growing confidence in Ethereum’s mid-term outlook. Heavy inflows from OTC desks to major entities typically indicate long-term positioning rather than short-term speculation.
Taking technicals, seasonality, and institutional accumulation into account, here are possible scenarios: