The combination of rising exchange outflows, resilient technical support zones, and explosive growth in stablecoin circulation positions Ethereum as one of the most closely watched assets in the crypto market this week.
Ethereum (ETH) is trading near $4,605, consolidating below the $4,638–$4,665 resistance zone. Buyers have actively defended the $4,520–$4,547 range, where short-term exponential moving averages (EMAs) provide crucial support. This resilience has kept the Ethereum price trend constructive, despite broader market caution ahead of the U.S. Federal Reserve’s policy decision.
Ethereum (ETH) was trading at around $4,611, up 3.01% in the last 24 hours at press time. Source: Ethereum Price via Brave New Coin
A 25-basis-point rate cut is expected this week, and historical data suggests Ethereum could benefit. Since 2022, ETH has gained an average of 12% following similar Fed moves, strengthening hopes for a breakout.
Market analyst @crypto_goos noted in an X post that Ethereum’s chart shows a breakout above a descending triangle pattern, often considered a bullish signal. The projection places Ethereum price prediction at $5,500, a level not seen since previous market peaks.
Ethereum eyes a $5,500 breakout after breaching a descending triangle, signaling strong bullish momentum unseen since prior market highs. Source: @crypto_goos via X
Another analyst, @LaCryptoMonkey, highlighted $4,770 as a dynamic support level, derived from August’s consolidation lows. “Delaying entry until this zone is confirmed may present an ideal rebound opportunity,” the post suggested.
These technical perspectives align with on-chain signals that show strong accumulation despite recent volatility.
Beyond technicals, Ethereum’s role in decentralized finance (DeFi) is expanding. According to data shared by Francesco Andreoli, stablecoins on Ethereum Layer 1 and Layer 2 networks have surpassed $171 billion in circulation, an all-time high.
Stablecoins on Ethereum surge past $171B, with the mainnet at $152.8B and Layer 2s like Arbitrum, Base, and Mantle driving record-breaking growth. Source: @francescoswiss via X
The Ethereum mainnet alone accounts for $152.8 billion, a 78% year-on-year increase, underscoring its dominance as the hub for stablecoin liquidity. Layer 2 networks are also gaining traction, with Arbitrum holding $8.8 billion and Base reaching $3.9 billion. Emerging solutions like Mantle and Linea have posted triple-digit growth, highlighting accelerating adoption across scaling ecosystems.
This surge in liquidity enhances Ethereum’s position as a settlement layer for stablecoins and DeFi transactions, reinforcing investor confidence in ETH as a core asset.
Charts show ETH holding an ascending trendline since early September, with higher lows forming consistently. The Supertrend indicator has flipped bullish, resting around $4,639 in line with resistance.
ETH maintains an ascending trendline with bullish momentum, eyeing $5,500 upside while key supports at $4,547–$4,370 safeguard the price structure. Source: @Oscarweb0 via X
Upside targets: $4,638, $4,700, and $4,820, with potential to extend toward $5,000–$5,500 if momentum accelerates.
Downside supports: $4,547, $4,476, and $4,370, with $4,200 acting as the broader trendline floor.
The Relative Strength Index (RSI) sits near mid-50s, suggesting balanced momentum without overbought conditions. The 100-EMA and 200-EMA at $4,493 and $4,370 provide deeper trendline cushions if downside pressure intensifies.
Ethereum’s immediate challenge is clearing the $4,638–$4,665 resistance band. If buyers succeed, the next test lies at $4,820, opening the path toward $5,000 and potentially the $5,500 breakout target forecasted by bullish traders.
Ethereum’s $4,770 support signals a strong rebound opportunity, with on-chain accumulation reinforcing bullish momentum despite recent volatility. Source: @LaCryptoMonkey via X
While downside risks remain—particularly if ETH slips below $4,476—ongoing accumulation trends, combined with record stablecoin liquidity, create a strong fundamental base. For now, Ethereum’s structure remains bullish within its broader ascending cycle.
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