TLDR
- Ethereum rose 14% over the past seven days, climbing above $4,500 for the first time in two weeks
- Trading volume increased 7.87% to $47.06 billion, while open interest grew 2.04% to $60.57 billion
- Analysts identify key resistance at $4,500, with potential targets of $4,700 to $6,035 if breakthrough occurs
- RSI at 57.18 and MACD at 27.3 indicate strong bullish momentum without overbought conditions
- Bitmine Immersion Tech added nearly $12 billion in Ether reserves through debt issuance and stock sales
Ethereum is currently trading at $4,488, marking a 2.17% increase in the last 24 hours. The price has climbed above $4,500 for the first time in two weeks.
Over the past week, ETH gained 14.69%. The monthly futures premium remains at 7% over spot markets, within the neutral 5% to 10% range.
Trading volume reached $47.06 billion, up 7.87% in 24 hours. Open interest increased 2.04% to $60.57 billion. The OI-weighted funding rate stands at 0.0082%.
Analyst Ted Pillows identified resistance around $4,500. He stated that breaking this level could push prices toward $4,700 or $4,750. Failure to break resistance may result in a pullback to $4,250.
$ETH is facing some resistance around the $4,500 level.
If Ethereum reclaims that level, it'll pump towards the $4,700-$4,750 level.
Otherwise, ETH could dump towards the $4,250 support level or a bit lower. pic.twitter.com/BmBmqrCy80
— Ted (@TedPillows) October 3, 2025
Kamran Asghar noted that Ethereum confirmed a breakout above $4,282. His analysis targets $6,035 based on the 1.618 extension level. Asghar views this as a structural change rather than a temporary spike.
Technical Indicators Show Strength
The Relative Strength Index sits at 57.18. This reading shows high buying interest without reaching overbought territory. The level suggests room for further expansion.
The Moving Average Convergence Divergence line stands at 27.3, with the signal line at negative 13.6. The positive histogram confirms an uptrend. These indicators support the case for continued price growth.
Ethereum options delta skew remains within a neutral band of plus 6% to minus 6%. Put and call options trade at comparable levels. This indicates balanced market sentiment between bullish and bearish positions.
Competition and Network Activity
Ethereum maintains dominance in total value locked with nearly $100 billion secured. However, network activity shows limited improvement compared to competitors.
Ethereum’s network fees dropped 30% over the past month. Transactions declined 10% during the same period. BNB Chain, Avalanche and HyperEVM saw fees double with transaction counts surging 60% or more.
The synthetic stablecoin protocol Ethena gained 18% in TVL over 30 days. Spark, a DeFi lending platform, saw deposits rise 28%. The Pendle yield platform experienced a 50% TVL decline.
Analysts see approval odds above 95% for Solana, Litecoin and XRP spot ETFs in October. Competition from these networks continues to grow across the altcoin market.
Bitmine Immersion Tech added nearly $12 billion in Ether by issuing debt and selling stock. This institutional accumulation could create a supply shock. Trading volume on CoinGlass reached $90.03 billion, up 20.31%.
