Ethereum (ETH) is trading close to a key level that analysts say could determine the next big move.
Meanwhile, the asset’s price was around $4,350, with a 24-hour volume of over $41 billion. It has fallen 2% in the past day and 3% in the last week.
Wyckoff structure suggests possibility of breakout
Technical analyst ZYN identified Wyckoff’s accumulation pattern on Ethereum’s weekly chart. According to the structure, ETH has already passed the initial stage and is currently in what is called the final stage. A clean “Spring” and “Trial” under $2,500 formed earlier this year. Since then, ETH has been rallying towards the major resistance level at $4,750.
$ETH Wyckoff accumulation is in its final stages.
Ethereum only needs to close above $4,750 for the week to begin a new rally.
My goal is $8,000 by the end of Q4 and $10,000 by the top of the cycle. pic.twitter.com/P1rIbC2gdt
— ZYN (@Zynweb3) October 9, 2025
The analyst predicted a target of $8,000 by the end of the fourth quarter and $10,000 later in the market cycle. In this setup, previous resistance levels at $3,880 and $4,100 are acting as support.
Breakout from falling wedge supports bullish view
Trader Tardigrade noted a breakout from a descending wedge on the ETH weekly chart. This wedge formed after Ethereum’s strong move earlier this year, showing a series of lower highs and lower lows. ETH then broke out above the top of the pattern around $4,100.
In particular, this kind of breakout often leads to a continuation of the rally. The chart shows an expected move towards $6,500 to $7,000 if current momentum holds. ETH has been respecting the $4,100 level as support, which previously served as resistance.
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Active traders’ cost base is close to price
On-chain data from CryptoQuant contributor Crazzyblockk shows ETH approaching the “realized price” of $4,280 for highly active addresses. These wallets have had more than 100 transactions in the past 30 days and represent a group of short-term participants. This cost basis is considered a potential pivot point.
Crazy Block explained:
“This is an important level to watch because it represents the average acquisition price.”
If ETH rises above this zone, it could indicate continued accumulation from this group. Failure to hold them could lead to more short-term selling.
institutions continue to accumulate
Ash Crypto highlighted market movements related to large-scale accumulation. He noted that while ETH has returned to early October levels, BlackRock’s ETHA fund purchased $1.4 billion in ETH during this period. He also pointed to continued liquidity activity, suggesting large holders remain active buyers.
He identified $4,240 as a near-term support level and $5,000 as an immediate resistance level. Based on current order book dynamics, a passage through $5,000 could pave the way for a rapid rally towards $6,000.
