Ethereum News Today: ETH Price Eyes $4,650–$4,700 Breakout Zone After 15% Weekly Surge

Ethereum (ETH) surged 15% last week and is currently trading at $4,550 as of October 5, 2025. The asset has gained 1.5% in the previous 24 hours and now has a market capitalization figure of $550 billion. The number of trades also increased in the protocol, now recording between 1.6 million and 1.7 million daily transactions.

Ethereum reclaimed its position above the psychological level of $4,600 that it had earlier held. Traders are now targeting the $4,650-$4,700 level of resistance, which has been tested 4 times in the last few weeks, without a clear close. A sustained breakout above this level may open the way for gains to $4,900-$5,000. In contrast, a rejection could cause a retracement towards $4,200, which is considered a key support level.

On-chain Staking and Liquidation Trends

On-chain data indicates an increase in staking participation, which has contributed to Ethereum's bullish momentum. The increasing flow of ETH into staking contracts is a sign of confidence in the network's fundamentals. The increased demand for staking has also decreased the supply of liquid, easing downward pressure on the market.

In parallel, $53 million in leveraged positions were liquidated within 24 hours. Short sellers were responsible for $37 million of this figure, suggesting a potential wave of short covering. This dynamic weakened the bearish influence on price action, giving buyers more strength to recover to higher levels.

The RSI of Ethereum is currently at 60, indicating a healthy momentum and a level that is not overbought. The Average Directional Index (ADX) also shows that trend strength is increasing. The more frequent high lows since mid-September confirm a slow bullish pattern, but resistance near $4,650 is decisive.

Also Read: Will Ethereum’s 2025 Privacy Roadmap Help It Dominate Institutions?

Outlook Shaped by Upgrades and Catalysts

The Ethereum community continues to follow the development of Ethereum's Fusaka upgrade, which is scheduled for December. The update is designed for scalability and efficiency, prioritizing fundamentals over the long term. Although the bullish move on Tuesday shows strength, analysts note that price action in the immediate term is still influenced by the need to break above the resistance zone at $4,650.

Traders should look for daily closes with volume confirmation around this level. More growth in the lower part of the triangle, along with better technical conditions, suggests a stronger formation. But it's a necessary support level to hold if the market is rejected.