Ethereum can rally to $5,900 in October – but ONLY IF…

ambcryptoPublished on 2025-10-05Last updated on 2025-10-06

Key Takeaways

Is Ethereum in a bullish or bearish trend?

The higher-timeframe trend is bullish, but the $4.7k region could act as a supply zone in the coming days, so traders should be cautious.

How high can ETH go in October?

The $5.3k and $5.9k levels were feasible price targets for October, especially if the past week’s bullish momentum can continue.

Ethereum [ETH] rallied 9% last week, retesting the $4.1k level as support.

Strong onchain flows and a supply squeeze are thought to be some of the leading factors powering the rally. With that, we observed renewed institutional demand, reflected in long-term bullish conviction.

The rising Total Value Locked (TVL) underlined Ethereum’s importance in the DeFi landscape. Meanwhile, a government shutdown might spur equities and crypto to rally in the coming days.

Ethereum price prediction bullish, but…

Ethereum 1-week ChartEthereum 1-week Chart

Source: ETH/USDT on TradingView

On the weekly chart, the price action of ETH was encouraging.

It had formed a supply zone at the $4.1k level (orange), which had been unable to surpass from March 2024 till August 2025. In recent weeks, ETH has converted this zone into a demand area.

ETH’s breakout to a new all-time high at $4,953 strengthened bullish conviction. The Relative Strength Index (RSI) stood at 63.30, confirming momentum remained in favor of buyers.

However, the OBV flashed a warning sign.

It has been unable to form a new high compared to March 2024, even though the price has climbed past $4.1k. This suggested some weakness from buyers.

In short, the inference is that Ethereum prices might struggle to climb to $5k or beyond unless buying volume grows further.

Bears eye $4.5K zone, but buyers still hold the edge

Ethereum 1-day chartEthereum 1-day chart

Source: ETH/USDT on TradingView

On the daily timeframe, the drop below $4,060 (marked in yellow above) on the 25th of September represented a change in market structure.

At press time, the $4,460-$4,720 area was a bearish order block that could reject ETH bulls.

Given the bullish structure on the weekly timeframe, swing traders should not rush to sell ETH at the $4,500 supply zone on the higher timeframe chart.

Instead, they can wait for a move past $4.7k, or a retracement to $3.5k, to look to go long.

The $3.9k level was another strong support that could help keep the Ethereum sellers at bay. Beyond $5,000, the $5.4k and $5.9k would be the next bullish price targets based on Fibonacci extension levels.

Disclaimer: The information presented does not constitute financial, investment, trading, or other types of advice and is solely the writer’s opinion

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