Price Analysis View Non-AMP

Ethereum Price Analysis: Is ETH Ready to Moon Akin to Bitcoin and Gold Soon?

Published by
Steve Muchoki

Ethereum (ETH) price has gained bullish momentum in the past two days akin to Bitcoin (BTC) and Gold. The top-tier altcoin, with a fully diluted valuation of about $541 billion, surged over 4% during the past 24 hours to reach a range high of about $4,517 before retracing to trade around $4,485 at press time. 

The Ethereum price pump in the last two days has almost mirrored that of Bitcoin, which has closely followed the footsteps of gold. With the wider crypto market signaling a bullish outlook, more than $470 million was liquidated from the leveraged traders during the last 24 hours. 

Top Reasons Why Ethereum Price Surged Today

‘Uptober’ Crypto Bullish Narrative

Historically, the Ethereum price has recorded positive returns in October since its inception. Moreover, Ether price is expected to record a parabolic rally in the fourth quarter, akin to the 2017 crypto summer. 

Short Squeeze Impact

Heavy liquidation of short traders in the past two days, amid ‘Uptober’ sentiment, has influenced the rising odds of a short squeeze. During the past 24 hours, a total of $129 million was liquidated from Ether’s leveraged market, with over $106 million involving short traders.

High Demand from Whale Investors

The demand for Ethereum by whale investors has remained high in the recent past. For instance, aggregate market data from CoinGecko shows that a total of 13 entities, led by BitMine, have accumulated over 4 million ETH, valued at nearly $18 billion.

Market data analysis from SoSoValue shows that the U.S. spot Ether ETFs purchased Ether valued at around $80 million on Wednesday.

What’s Next for Ether Price?

From a technical analysis standpoint, the ETH price has rallied above a crucial support/resistance level around $4.2k in the last two days. 

However, crypto analyst Ali Martinez recently noted that the ETH price faces a strong resistance level around $4,505.

Steve Muchoki

Steve is a crypto news writer with a passion for decoding market moves. He blends breaking blockchain news with sharp technical analysis and bold price predictions. From Bitcoin rallies to altcoin breakouts, Steve breaks it all down with clarity and insight. Whether you're a trader or just curious, his analysis keeps you ahead of the curve.

Trust with CoinPedia:

CoinPedia has been delivering accurate and timely cryptocurrency and blockchain updates since 2017. All content is created by our expert panel of analysts and journalists, following strict Editorial Guidelines based on E-E-A-T (Experience, Expertise, Authoritativeness, Trustworthiness). Every article is fact-checked against reputable sources to ensure accuracy, transparency, and reliability. Our review policy guarantees unbiased evaluations when recommending exchanges, platforms, or tools. We strive to provide timely updates about everything crypto & blockchain, right from startups to industry majors.

Investment Disclaimer:

All opinions and insights shared represent the author's own views on current market conditions. Please do your own research before making investment decisions. Neither the writer nor the publication assumes responsibility for your financial choices.

Sponsored and Advertisements:

Sponsored content and affiliate links may appear on our site. Advertisements are marked clearly, and our editorial content remains entirely independent from our ad partners.

Recent Posts

Bitcoin SV Price Prediction 2025, 2026-2030: Will BSV Price Hit $100?

Story Highlights The Live Price Of Bitcoin SV BSV has traded under the 200-day EMA…

October 23, 2025

Open CS:GO Cases Online Safely – Top 6 Sites Revealed

Over the past few years, third-party case opening sites have absolutely blown up. A small…

October 23, 2025

Aster Price Analysis: Is $1 Support Now History or Opportunity?

Aster’s price story is both dramatic and cautionary. In the past month alone, Aster has…

October 23, 2025

Blockchain Prediction Market Polymarket Eyes $15B Valuation With Big Names on Board

Polymarket, the blockchain platform where users bet on everything from politics to sports, is making…

October 23, 2025

Crypto Analyst Warns Quantum Computing Could Trigger Bitcoin’s Worst Bear Market Yet

Crypto markets have always faced cycles of hype and correction, but a new kind of…

October 23, 2025

Dogecoin Price Analysis: How Long can DOGE Sustain Above the Crucial 200-Day MA?

Dogecoin (DOGE) price is once again at a critical juncture, testing its key support level…

October 23, 2025