- ETH holds the range of $4.2K to $45,000 as a $7.5 billion accumulation signal.
- Open institutional profits hit the record and increase confidence in ETH’s outlook.
- Key $4.5k resistance can trigger a rally, but $4K – 4.1K $4.1K offers minus-side support.
Ether (ETH) is trading in a narrow band between $4,200 and $4,500 this month, showing signs of momentum despite underlying on-chain data suggesting stronger structural demand.
Short-term traders continue to be cautious about potential weakness, accumulation patterns, exchange flows, and institutional positioning, but they draw a more subtle picture of Ethereum’s market trajectory.
The accumulation trend is around $4,300-4,400
Blockchain Analytics Firm Cryptoquant data highlights a key accumulation zone between $4,300 and $4,400.
Approximately 1.7 million ETH, worth around $7.5 billion, have been absorbed into long-term accumulation addresses at these levels.
Much of this activity is related to withdrawal from centralized exchange, reflecting an average cost base of nearly $4,300.
This purchase cluster establishes a critical support area that could act as a cushion when reconsidering lower levels of ether.
Analysts suggest that the ability of ETH to hold beyond this range could determine whether the current integration would turn into a springboard for gatherings or a springboard for deeper corrections.
The world’s largest exchange of volumes, Binance is at the heart of this dynamic, handling the largest runoff during the accumulation stage.
Interestingly, it shows that the average cost is significantly lower, with ETH deposited on the binance close to $3,150.
This divergence highlights a contrasting strategy between long-term holders that accumulate at higher levels and short-term traders who may seek profits at lower entry points.
Institutional participation and derivatives market activities
The institutional flow also shapes the outlook for ether.
Open interest at the Chicago Mercantile Exchange (CME) rose to record highs with severe concentrations on short-term maturation over a period of one to three months.
This concentration increases the likelihood of volatility in terms of contract satisfaction, but also indicates an increase in institutional involvement.
In particular, long term maturities of 3-6 months have also been built, and analysts can be interpreted as a sign of confidence in Ethereum’s wider trajectory.
Crypto Market analyst Pelin Ay emphasized that institutional demand and positioning in the derivatives market can further support upside down.
While liquidation risk remains rising, AY suggested that ETH could target $6,800 resistance levels by the end of the year.
Technology level and market sentiment
From a technical standpoint, ether was largely in the $4,200 to $4,500 in September, a low-performing companion like Bitcoin and Solana, and has recently achieved highs.
This difference suggests a temporary rotation of capital into other major crypto assets.
Still, the $4,500 level is considered an important inflection point.
A critical break above this threshold can restore momentum and cause a stronger upward movement.
On the downside, the risk of liquidity sweep remains, with support zones reaching around $4,200 and order blocks reaching nearly $4,000-$4,100.
Market sentiment remains divided. Crypto Trader Merlijn pointed out that it would change monthly metrics more constructively, such as turning green MACD flips after years of integration.
According to Merlijn, the technical signal suggests that Ethereum is “coiled and ready to explode,” adding that clearing the $4,500 level could trigger a parabolic rally.
As Ethereum approaches the final quarter of this year, the balance between weakening short-term momentum and deepening structural support could determine whether to break or retest the higher demand zone.
