Etherum exhales before the surge: Why analysts expect $5,500 by October

Etherum started the week in a neat corridor, holding near $4,506 after a volatile session where the price slipped from a peak of $4,619 to a quieter $4,500. A modest drawdown of 0.5% for the day worried only the most nervous traders, because indicators showed that the buyers' impulse only slowed down, not disappeared. On the flat surface of the chart there remained a barely noticeable shaking flame - a hint of the forthcoming surge.

Fundstrat's chief technical strategist Mark Newton assures: every etherum move to $4,418-$4,375 creates an almost perfect window frame for buying. According to his calculations, the previous low of $4,233 will no longer be broken, and the trend is capable of developing an attack to $5,500 by mid-October. Newton reminds that in summer such pullbacks only accumulated energy for the next impulse, and this time there are less fundamental signals than the market's desire to test new tops.

The technical picture confirms his optimism. A quick drawdown drew a clear "floor" at $4,471, where the asset met strong demand twice, and resistance was formed at $4,671. Thus, trading is locked in a $200 corridor, where each candle is like an exercise in patience. While the buyers are working out the level of $4,490-4,495, the sellers are holding the line of $4,530, but the general downward slope is not visible - rather the market is gathering strength for a breakout.

Volumes confirm the balance: in the hour of the sharpest sell-off the turnover more than doubled to 501,741 units, and then collapsed, leaving only a comfortable consolidation range. A great illustration of how a sharp drop can quickly clear the glass of excess shoulders, so that the stage is set for conviction holders to reappear. The short shadows on the candles emphasize: for now etherum is having a hard time breaking through the local "ceiling", but every selling attempt is met with an almost immediate response.

Macro environment adds pepper: markets are waiting for the upcoming Fed decision on rate cuts, and traditional assets look cautious before this event. In addition, institutional reports show a steady accumulation of ETH, although public discussions about gas costs and the prospects for Layer-2 have cooled the network excitement a bit. All of this together provides a scene where instead of sharp panic, we see underlying optimism and faith in a dynamic October.

The focus now is on whether the price can get above $4,671 without another respite. If that happens, the inertia may increase in an avalanche-like manner: the asset will attract speculators, buyers' pending bids will be triggered, and the move to $5,500 will no longer seem like an audacious fantasy. Market participants closely monitor every tick, ready to react to any hints of schedule and news, because at such moments liquidity turns into fuel for big ideas.