Saad Ullah
Ethereum (ETH) price surge has traders buzzing as the world's second-largest crypto smashed through the $4,400 barrier. After days above $4,000, ETH finally broke out with serious force, backed by institutional money and whale accumulation.
ETF Hype and Institutional Money Flooding Into ETH
The biggest catalyst? Crypto ETFs are having their moment. The U.S. is gearing up for "ETF Month" this October, with decisions expected on at least 16 crypto ETFs backed by Solana (SOL), up 3.28%, Ripple (XRP), climbing 1.26%, and Dogecoin (DOGE), pumping 5.61%. Thailand regulators are also expanding crypto ETF offerings beyond Bitcoin.
Ethereum's perfectly positioned as the backbone of DeFi and tokenization. Ethereum spot ETFs pulled in $80.79 million in net inflows over three straight days according to SoSoValue data. Whale wallets have been accumulating hard, timing the spike perfectly.
Ethereum (ETH) Trading Volume Surges
Trading activity exploded. Coinglass shows ETH spot volume hit $7.17 billion daily, while futures volume reached $97.3 billion. Open interest jumped nearly 2% to $59 billion—fresh money entering the market.
On October 2, Ethereum popped 6.7%, breaking from the $4,000 zone. The rally pushed ETH's market cap up 6.3% to $531 billion.
Key Levels to Watch
The breakout looks clean. TradingView data shows Ethereum punched through $4,400 with strong separation from the 30-period moving average at $4,396.
The RSI's at 72 - overbought territory. A pullback's possible as traders take profits, but strong breakouts can keep RSI elevated longer.
Next resistance sits at $4,450 to $4,500. Break through that, and $4,600-$4,700 becomes realistic. Support's at $4,400, then the 30-day MA at $4,396, followed by $4,350-$4,360. As long as ETH holds above $4,400, bulls are in control.
Ethereum's got fundamentals, institutional backing, and solid technicals working together. The picture looks bullish heading into October as traders watch whether ETH can crack $4,500 next.
Saad Ullah
