Ethereum Price Target: Retake $4,500 in October?

Ethereum (ETH) has staged an impressive recovery after dipping to a two-month low of around $3,435 earlier this October. As the second-largest cryptocurrency by market capitalization, Ethereum is once again in the spotlight, analysts now eye a move back to $4,500 this month.

With bull flag patterns emerging on daily charts and on-chain MVRV data reinforcing market optimism, ETH appears positioned for a potential breakout. Let’s explore the latest technical setup and key factors driving Ethereum’s bullish case.

ETH Price Forms a Bull Flag Pattern

Sumber: CoinMarketCap

Ethereum’s rebound seems to be shaping within a bull flag pattern, a continuation signal that often follows a strong upward move.

After rallying from its April low of about $2,500 to nearly $4,950 in August, ETH entered a period of consolidation inside a descending parallel channel. The recent bounce near $3,500, aligning with the 200-day Exponential Moving Average (EMA), indicates renewed buying pressure from long-term holders.

If this pattern plays out, Ethereum could test the upper channel boundary around $4,450–$4,500 this month. Breaking above it may pave the way for a larger rally toward $5,000, marking a fresh multi-month high.

On-Chain Data Reinforces the Bullish Case

Ethereum’s MVRV (Market Value to Realized Value) ratio is showing strong support near the mean deviation band at approximately $3,900. Historically, this zone has acted as a reliable springboard for ETH rallies, similar patterns were observed in early 2021, mid-2023, and early 2024.

If this band continues to hold, ETH may soon approach the +1σ deviation, which sits close to $5,000. This statistical alignment supports the theory that Ethereum remains in a healthy correction phase within its broader bull cycle, rather than showing signs of exhaustion.

Analyst Sentiment and Technical Outlook

Market analysts like FOUR and Luca have pointed to a double-bottom reversal and strong support from Ethereum’s “weekly bull market band.” According to Luca, ETH maintaining momentum above this key zone strengthens the case for a push toward $4,500 in the short term.

If the $3,550 support—defined by the 200-day EMA and the lower bull flag boundary—holds firm, traders anticipate a steady climb. Conversely, losing that level could invalidate the bullish setup, exposing ETH to a correction toward $3,000–$3,200.

READ ALSO: Ethereum Indicator Points to A New Bullish Trend! Is This Correct?

Conclusion

Ethereum’s recent rebound above $4,000 signals growing confidence among traders and investors. With technical indicators, chart structures, and on-chain data aligning in favor of the bulls, the $4,500 price target looks achievable before the end of October.

While volatility remains a constant factor in crypto markets, Ethereum’s strong fundamentals and consistent network growth provide a solid foundation for further upside momentum in the weeks ahead.

For more in-depth crypto market updates and predictions, check out the latest posts on the Bitrue blog — or explore trading directly on Bitrue’s platform.

FAQ

What is driving Ethereum’s price rebound?

Strong support at the 200-day EMA, combined with bullish chart patterns and network activity, is fueling renewed buying interest.

What is the Ethereum price target for October?

Analysts suggest ETH could reach between $4,450 and $4,500 if current momentum holds.

What happens if Ethereum breaks above $4,500?

A breakout above that level could trigger a rally toward $5,000–$5,200, marking a new high for 2025.

Is Ethereum still in a bull market?

Yes, on-chain data and long-term technical indicators suggest Ethereum remains in a healthy correction phase within an ongoing bull trend.

What could invalidate the bullish setup?

If ETH closes below $3,550, it may signal further downside toward $3,000, negating the short-term bullish pattern.