Ethereum’s Bull Run: Still Alive? 🐢📈

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TL;DR

  • Despite bleeding out lately, Ethereum continues to show bullish signals. Or perhaps it’s just a well-rehearsed act of desperation.
  • Analysts debate whether ETH will rebound to $4,200 or plunge to $3,500. A choice as thrilling as watching a teakettle whistle.

Are the Bulls Coming Back?

Ethereum, which was at the forefront of gains this summer, briefly plunged below $4,000 earlier today (September 25) amid an ongoing red wave passing through the entire crypto market. It later surpassed the psychological level but remains 12% down on a weekly scale. A performance so lackluster it could make a doorknob weep.

Despite the negative performance, three crucial factors signal that a resurgence could be on the way. The first of these is the dwindling supply of ETH tokens on exchanges, a situation so dire it would make a Victorian matron weep. CryptoQuant’s data shows that today the figure has dropped to a nine-year low of around 16.3 million coins. A testament to investors’ growing preference for self-custody-though one might argue they’ve simply traded one form of anxiety for another.

This development indicates that many investors have switched from centralized platforms to self-custody solutions, which in turn reduces immediate selling pressure. A noble endeavor, though one wonders if they’ve considered the existential dread of a lost private key.

Next in line is Ethereum’s Relative Strength Index (RSI). The technical analysis tool examines the asset’s recent price movements to indicate whether it has entered oversold or overbought territory. It ranges from 0 to 100, and readings below 30 suggest that the first scenario could be in play, which can result in a rally. As of press time, the RSI stands at roughly 22. A number so low it could double as a thermostat setting for a polar bear’s den.

Last but not least, we will touch upon the latest whale activity that may also positively impact ETH’s valuation. X user ZYN revealed that ten new wallets have purchased over 200,000 tokens worth more than $800 million in the last 24 hours. A spectacle so grand it could rival the opening of a new opera season. Such actions reduce the amount of coins available on the open market and could be followed by a price pump (should demand remain constant or rise). Additionally, smaller players may view this as an encouraging sign and join the ecosystem by distributing fresh capital. A game of musical chairs where the music is a blockchain and the chairs are liquidity pools.

The Analysts’ Take

According to X user Lennaert Snyder, Ethereum’s road to recovery goes through a crucial reclaim of $4,200. A feat as likely as a cat learning to fly. “Watching that level for confirmation shorts and longs after the gain. Losing $3,900 support brings us to the $3,700 zone, holding that is key to maintain the weekly uptrend,” he argued. A statement so full of hope it could power a rocket ship.

The analyst, using the X moniker Ted, leaned more bearish for the short term. He predicted that ETH will most likely retest $3,800, which could result in a further downtrend to $3,500. On the other hand, if it holds this level, “a rally will happen.” A prediction as reliable as a parrot on a pirate ship. 🐦

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2025-09-26 06:52