ETH Testing Support, Analysts Predict New ATH in November
Ethereum (ETH) is buying and selling close to $4,000 after every week of combined market motion. The value dropped 4% in the previous 24 hours and 15% during the last seven days.
Analysts are watching a key assist degree, as the present construction suggests ETH could also be making ready for one more transfer greater.
Structure Points to Further Upside
Lark Davis, a preferred market analyst, stated Ethereum has damaged out of a symmetrical triangle that had been in place since 2021. After the breakout, ETH touched the earlier all-time high round $4,855 earlier than pulling again. It is now forming a consolidation sample simply above the outdated resistance.
Zoom out on $ETH and the construction is obvious:
– ETH broke out of a multi-year symmetrical triangle that began again in 2021
– Rejected completely on the outdated macro swing highIt’s now coiling inside a bullish pennant, and in addition testing the higher triangle line which was as soon as… pic.twitter.com/litJAfytV2
— Lark Davis (@TheCryptoLark) October 13, 2025
He additionally identified that the higher triangle line, which acted as resistance, could now function assist. If the asset holds and breaks out from this zone, Davis famous {that a} Fibonacci projection places the following goal close to $7,300.
Bounce From Support Zone and Short-Term Setup
Michaël van de Poppe stated ETH lately bounced from a robust demand zone between $3,800 and $3,940. This space had acted as assist earlier, and the worth as soon as once more reacted from it with high quantity. ETH is now dealing with resistance round $4,200.
Van de Poppe commented, “I feel we’ll see a brand new ATH for Ethereum in November,” following the current restoration. As lengthy as ETH stays above the $3,800 degree, merchants expect one other check of the $4,855 vary in the brief time period.
Moreover, Trader Tardigrade shared a chart exhibiting a well-known sample enjoying out. Earlier this yr, ETH moved sideways, fashioned three dips, after which broke out. A virtually equivalent construction is now forming once more.
“Ethereum has accomplished three dips and returned to the consolidation zone. It’s able to take off.”
The chart reveals ETH again on the top quality, with consumers stepping in.
Market Update and Institutional Activity
During current US–China commerce tensions, ETH confirmed short-term weak spot earlier than recovering. On-chain knowledge from CryptoQuant showed that the worth dropped beneath key transferring averages in the course of the peak of the battle however regained energy as market sentiment improved.
Open curiosity in ETH futures dropped from $33 billion to $18 billion following the October 10 sell-off. Meanwhile, BitMine Immersion Technologies reported that its ETH holdings now exceed 3 million tokens. The firm confirmed its complete crypto property are valued at $12.9 billion, with ETH making up the vast majority of that determine.
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