Ethereum is demonstrating one of the best years in its history with significant price fluctuations and market optimism.
Record-Breaking Ethereum Achievements
Last week, Ethereum reached a new all-time high of $4,946, then slightly dipped to $4,414. However, this year Ethereum has attracted $11 billion in institutional inflows, with U.S.-listed ETFs now accumulating over $23 billion. A significant role in maintaining price stability comes from staking: about 35 million ETH, making up approximately 29% of the total supply, is locked to earn rewards.
September as a Turning Point
Historically, September has been a bullish month for Ethereum, and this year is no exception; ETH has already risen by 77.6% this quarter. In the past, when Ethereum performed well in Q3, Q4 often delivered even bigger profits. Cases from 2020 and 2017 confirm this trend. Additionally, institutions are becoming more actively involved in the market: the iShares Ethereum fund has grown from under $2 billion to nearly $13 billion.
Future Prospects for Ethereum
Popular trader Crypto Rover pointed out a key support line for Ethereum. Currently, Ethereum shows strong support around $4,350, while resistance is close to $5,000. A breakout above $5,000 could pave the way for a stronger rally, with analysts eyeing potential targets between $6,000 and $7,500. However, September is also known for its volatility: on average, the market experiences a drop of around 3.6%.
Ethereum continues to show strength and rising interest from institutional investors. Expectations for upcoming quarters remain positive, but traders should be cautious due to potential volatility in September.
