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Click on the link to enter Tencent Meeting: https://meeting.tencent.com/p/9309732027 Amidst market volatility where over $490 million in long positions have been liquidated, long-term holders are quietly hoarding ETH and institutional funds continue to flow in. Recently, Ethereum (ETH) has experienced significant market volatility. In late September, the ETH price briefly fell below the $4100 support level, leading to the liquidation of over $490 million in long positions, becoming one of the largest liquidation events of 2025. However, beneath this apparent weakness, on chain data reveals a completely different story: over 420000 ETH flowed out of the exchange this week, indicating that long-term investors are actively accumulating. 【 01 Price Status: Market Fluctuations and Potential Support 】 As of September 22-25, 2025, the trading price of Ethereum is hovering between $4100 and $4470. This price range reflects the current hesitation in the market. - Key support level: The range of $4250-4300 has become an important support in the near future, and if it falls below, it may explore the psychological level of $4000. - Resistance level: The direct resistance level is in the range of $4380-4450, and after breaking through, it may challenge $4500. The market sentiment indicator shows that the fear and greed index is 45 (fear), and the short-term sentiment tends to be pessimistic. The random oscillator has entered oversold territory, with a relative strength index (RSI) close to 41, indicating that the market may be approaching a short-term rebound opportunity. 【 02 Bullish Motivation: Institutional Adoption and On Chain Signals 】 Despite short-term price fluctuations, multiple fundamental factors support Ethereum's long-term bullish outlook. The participation of institutions has significantly increased. The managed asset size of the spot Ethereum ETF has reached $24.7 billion, with a net inflow of $213 million recorded in late September alone. Traditional financial institutions such as DBS Bank have started deploying tokenized structured products on the Ethereum blockchain. Enterprise funds are also expanding their exposure to Ethereum. Over the past month, multiple listed companies have cumulatively increased their holdings of 877800 ETH (approximately $4 billion) as reserve assets. On chain data also sends positive signals. The ETH supply on the exchange has dropped to a five-year low, with 2.69 million ETH being withdrawn in the past two months. This supply contraction phenomenon, combined with increased online activity (transaction costs rose by 35% last week and active addresses increased by 10%), provides a solid foundation for prices. 【 03 Price Prediction: From Short Term Goals to Super Cycles 】 The price forecast of Taifang presents a wide range, reflecting the differences in different time frames and methods. Short term forecast (September October): -CoinCodex predicts that ETH may reach $4579 (up about 10%) by September 27th. By mid October, the price may further climb to $4790. Mid to long term outlook (by the end of 2025 and beyond): Several renowned analysts have put forward a more optimistic outlook: -BitMine CEO Tom Lee predicts that ETH may reach $10000-12000 by the end of 2025, and may even surpass $15000. -Standard Bank has raised its year-end target to $7500. -Analyst Javon Marks believes that Ethereum has the potential to break through $8000. Tom Lee even proposed the concept of a "super cycle", suggesting that Ethereum may enter a long-term bull market lasting 10-15 years and become a "pillar adopted by Wall Street and the US government". 【 04 Technical Analysis: Key Levels and Possible Paths 】 From a technical perspective, Ethereum is currently integrated within a symmetrical triangle, with resistance around $4566 and support at $4000. Dutch analyst Gert Van Lagen applies the Elliott Wave theory to analyze that Ethereum is in the final stage of its five wave price cycle starting in 2022, which is likely to push its price up to the $10000 level. 【 05 Risk Factors: Challenges that cannot be ignored 】 Despite the optimistic outlook, investors still need to be wary of the following risks: The macroeconomic headwinds continue to affect the market, including concerns about US inflation and uncertainty in the Federal Reserve's monetary policy. These factors may lead to increased volatility of risk assets. The sharp increase in the exit of validators has brought short-term supply pressure. Currently, over 2.45 million ETH (worth approximately $11 billion) are waiting for staking, and the withdrawal queue has been extended to about 42 days. Market volatility remains high. In the past 30 days, Ethereum has recorded 14 green trading days (rising days) with a volatility of 2.98%. High volatility means that although the potential returns are considerable, the risks also increase accordingly. --- As Ethereum consolidates within the critical range of $4000 to $4800, market participants are closely monitoring the next steps. The short-term trend will depend on whether the support level of $4000 can be maintained, while the long-term outlook is even brighter. Both Tom Lee's $12000 forecast and Standard Bank's $7500 target point to a consensus: Ethereum is gradually becoming an indispensable part of the traditional financial world. As pointed out by the market, the large outflow of ETH from the exchange indicates that visionary investors are strategically accumulating by taking advantage of the current price weakness. This has laid a solid foundation for the future recovery and growth of Ethereum. Disclaimer: The above content only represents the author's personal opinion and is intended to assist investors in understanding information related to the capital market. It does not constitute any investment advice and does not represent the position or viewpoint of AiCoin. The market is risky and investments should be made with caution.