In September, Ethereum (ETH), the second-largest cryptocurrency, saw an almost 9% increase, which is a significant achievement considering that this month is traditionally considered one of the weakest for the asset. Currently, the price of ETH exceeds $2,700, and the market capitalization is nearly $330 billion. Analysts and market observers are confident that Ethereum is on the verge of significant growth, supported by the activity of large investors and strong institutional demand. Twitter user Gerla points out that the price chart showed a "dangerous" situation for bears, highlighting the range of 2,650-2,900 as a key zone. He added, "Clear this level, and I expect ETH to rise quickly. The big target remains in the range of 4,800-5,200. This is not the trend I would like to smooth out."
Another analyst, Altcoin Sherpa, noted that the asset has been consolidating in recent days, which may indicate the possibility of a major breakout. Ted comments that the lack of significant volatility indicates the need for purchases to push ETH above $2,800, otherwise, the chances of a sharp correction increase. Ethereum whales have accumulated about 60,000 units (worth approximately $162 million) over the past week, and previously large investors gathered more than 320,000 coins over seven days. There is a theory that whales have insider information that other participants do not have, and their buying activity can spark public enthusiasm and attract new investors.
Institutional interest in Ethereum is also growing: net inflows into ETH-based ETFs have reached nearly $14 billion, with almost $700 million raised over the past week. An interesting assumption was voiced by an unknown trader who opened a long position on ETH with 25x leverage for $99. Notably, this trader recorded 3,156 trades with a perfect win rate of 100%. Former BitMEX CEO Arthur Hayes predicts that Ethereum could reach a new all-time high of $10,000 by the end of the year, pointing out that it remains the safest layer 1 (L1) network despite competition from other blockchains. MickeyBullCrypto is even more optimistic, expecting a "mega breakout" that could send ETH to $7,000 and then to $14,000 as the bullish rally builds.
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