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Ethereum Price Forecast: Can ETH Break $4,600 in October Rally?

By:
Yashu Gola
Published: Oct 2, 2025, 09:30 GMT+00:00

Key Points:

  • Ether (ETH) surged 6.75% in early October, trading above $4,380 on Thursday.
  • A breakout from an inverse head-and-shoulders pattern sets $4,600 as the next upside target.
  • RSI signals short-term overbought conditions, hinting at a potential pullback toward $4,270 support.
Ethereum Price Forecast: Can ETH Break $4,600 in October Rally?

Ethereum’s native token, Ether (ETH), has kicked off October on a bullish note, climbing nearly 6.75% in the first two days of the month to trade above $4,380 on Thursday.

ETH/USD daily price chart. Source: TradingView

The move comes amid renewed optimism across crypto and global risk markets, with major stock indexes setting new highs. Can the ETH price continue its uptrend in October? Let’s examine.

ETH May Reclaim $4,600 Soon

On the 4-hour chart, Ethereum is breaking out of a classic inverse head-and-shoulders pattern, a bullish reversal setup that often signals the end of a downtrend.

The neckline breakout around $4,273 now acts as interim support, keeping the immediate trend tilted higher.

ETH/USD four-hour price chart. Source: TradingView

That said, momentum looks stretched in the short term. The relative strength index (RSI) has entered the overbought zone, meaning ETH may need a breather. A brief pullback toward the 200-period exponential moving average (200-period EMA; the blue wave) near $4,270 would be normal and not necessarily bearish.

As long as ETH holds above the 200-period EMA, bulls remain in control, and the pattern’s measured move points toward $4,600 as the next upside target. A decisive close above that level could open the doors to further rallies in October.

Ether’s Bull Flag Projects New Record High

Beyond the short-term inverse head and shoulders breakout, Ethereum’s daily chart is also shaping up a bull flag pattern. This setup typically emerges after a sharp rally, followed by a downward-sloping consolidation that acts as a pause before the next leg higher.

Currently, ETH’s push toward $4,600 not only completes the inverse H&S target but also aligns with the upper boundary of the flag. A successful breakout above this resistance zone could unleash fresh buying pressure and extend the rally toward $5,353, which would mark a new record high.

ETH/USD daily price chart. Source: TradingView

Importantly, Ethereum continues to trade above its 50-day EMA support near $4,220 and well above its 200-day EMA at $3,445, both widely tracked moving averages that keep the long-term bullish bias intact.

If bulls hold momentum, the flag breakout scenario could confirm ETH’s transition from recovery to full-blown price discovery. That would place Ethereum alongside Bitcoin in reinforcing the “Uptober” narrative across the crypto market

About the Author

Yashu Gola is a crypto journalist and analyst with expertise in digital assets, blockchain, and macroeconomics. He provides in-depth market analysis, technical chart patterns, and insights on global economic impacts. His work bridges traditional finance and crypto, offering actionable advice and educational content. Passionate about blockchain's role in finance, he studies behavioral finance to predict memecoin trends.

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