- Ethereum’s price shows a triple bottom pattern near $3,750–$3,800, indicating possible upward movement.
- The triple bottom confirms if Ethereum surpasses the $3,950–$4,000 resistance level.
- This breakout could lift Ether’s price about 10% toward $4,280 in the coming weeks.
- Large holders with 10,000–100,000 ETH are increasing their positions during the recent price decline.
- Smaller holders with 1,000–10,000 ETH have reduced balances, transferring supply to bigger investors.
Ethereum’s native token, Ether (ETH), has formed a triple bottom pattern near $3,750 to $3,800, signaling a potential price rebound in October. This pattern appears on the 4-hour chart, showing repeated support at this level where buying interest has prevented further declines.
The key resistance lies near $3,950 to $4,000, close to the 50-period exponential moving average (EMA). A decisive move above this neckline would confirm the triple bottom, opening the path to a 10% price increase toward roughly $4,280 by late October or early November.
Trading volume decreased during the pattern’s formation, which is typical before a breakout. A surge in buying volume during a breakout would validate this bullish setup. Analyst Kamran Asghar suggests a higher resistance range at $4,800 to $5,000 but agrees on the short-term upside potential.
Onchain data indicates that large wallets holding 10,000 to 100,000 ETH, often called “mega whales,” are accumulating Ether more rapidly than in recent years. These mega whales now control nearly 28 million ETH. Meanwhile, holders with 1,000 to 10,000 ETH have reduced their balances significantly during the recent correction, suggesting they sold to or joined the ranks of bigger investors.
This reshuffle shows that as Ether’s price fell, some mid-sized holders sold their coins, which were absorbed by larger holders buying the dip or increased their holdings to move into the mega whale category.
This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision. For further details, see the analysis by Kamran Asghar and Ethereum ownership charts.
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