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Ethereum was trading at around $4,400 at press time, up 6% in the past 24 hours and 9% this week.
Meanwhile, analysts are pointing to $4,505 as a key level to watch, with multiple technical setups suggesting that a breakout above this barrier could fuel the next move higher.
$4,505 Resistance in Focus
Crypto analyst Ali Martinez identified $4,505 as one of the most critical resistance zones for Ethereum. Data from Glassnode’s UTXO Realized Price Distribution (URPD) shows that around 1.75 million $ETH, equal to 2.25% of supply, last changed hands at this price.
$4,505 is one of the most important resistance levels to watch for Ethereum $ETH. pic.twitter.com/0QHS2P0P5C
— Ali (@ali_charts) October 2, 2025
Notably, this creates a heavy concentration of cost basis, meaning many holders could look to sell or exit when $ETH retests the level. With the asset currently below $4,400, a sustained push above $4,505 could ease selling pressure. If the level fails, $ETH may face repeated rejection similar to earlier supply clusters.
Cup and Handle Breakout
Merlijn The Trader pointed to a multi-year cup and handle formation on Ethereum’s chart. The pattern began forming in 2022, with a deep consolidation shaping the cup, followed by a handle retest near $4,300 in 2025.
Ethereum has since broken above the neckline. Merlijn described the move as “the holy grail” and noted:
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$ETH JUST DREW THE HOLY GRAIL.
3 years of chop erased in one breakout.
Measured move points vertical.Ethereum’s next stop: five digits.
Don’t fade the script. pic.twitter.com/odKqriQvWe— Merlijn The Trader ✈️ Token2049 🇸🇬 (@MerlijnTrader) October 1, 2025
A measured move from the pattern projects a target well above current levels, suggesting potential for a push toward the $10,000 range if the breakout holds.
Cycle Repeats Show Parabolic Potential
Another analyst, EtherNasyonaL, compared Ethereum’s current structure to past cycles. In both 2016–2017 and 2019–2021, $ETH cleared major resistance, retested it as support, and then accelerated into steep rallies.
Ethereum is now showing the same setup for a third time. The coin has retested resistance, turned support at around $4,388. According to EtherNasyonaL:
“Ethereum has experienced nearly identical scenarios across three distinct market cycles.”
If history repeats itself, $ETH could be preparing for another large upward phase.
- Source: EtherNasyonaL/X
$ETH/$BTC Pair Shows Room to Run
Michaël van de Poppe focused on Ethereum’s ratio against Bitcoin. The pair rose 144% from May to August before correcting. It now trades near 0.0366 $BTC, with support marked at 0.03250 $BTC as an “ideal zone for buys.”
Van de Poppe explained:
“Given that the $BTC pair is currently nicely holding up here, and has provided a standard correction, I think that we’ll see this one pick up momentum in the coming weeks.”
He added that $ETH typically gains after Bitcoin rallies and then slows, creating space for altcoins to perform.