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Ethereum, the second largest cryptocurrency, has returned to $4,000 following a drop in the week just concluded amid a decline in risk sentiment.
At the time of writing, $ETH was up 0.43% in the last 24 hours to $4,008, but down 10.07% weekly.
Ethereum fell for five straight days from Sept. 20 to reach a low of $3,825, its weakest level in nearly seven weeks, before paring the drop.
The major cryptocurrency rebounded to a high of $4,071 on Friday following the release of the PCE report, regarded as the Fed's favored inflation gauge, but this traction was short-lived.
This is as Ethereum's momentum paused, with price showing little to no change in the last 24 hours. $ETH's price remains tightly locked between $3,974 and $4,040, with the market awaiting its next move.
Three key levels crucial to watch
While traders watch out for where $ETH trends next, whether to the upside or downside, crypto analyst Ali highlights three key levels to watch for the $ETH price in the event of an upside move.
Three resistance levels to watch for Ethereum $ETH: $4,158, $4,307, and $4,505. pic.twitter.com/upNx3j6p32
— Ali (@ali_charts) September 28, 2025
Ali stated in a tweet that the three resistance levels to watch for Ethereum ($ETH) are $4,158, $4,307 and $4,505, with a breach of these key levels ultimately leading $ETH to the $5,000 target.
In a recent tweet, Dr Martin Hiesboeck, Uphold's head of research, stated that confidence in Ethereum is rising. Institutional investor BitMine recently increased its stake to 2.42 million $ETH, now holding over 2% of the total supply. This accumulation matches major traditional finance moves: REX Shares is launching its REX-Osprey $ETH staking ETF, and Morgan Stanley is adding support for $ETH trading on E*Trade, offering millions of clients direct access. Further strengthening the market, ETHZilla raised another $350 million specifically to buy more $ETH.
Ethereum's scaling efforts are also hitting milestones, with the network achieving a new record of six blobs per block, signifying heavy utilization of the data-availability layer by Layer 2s and confirming the success of the Dencun upgrade.