Ethereum is off to a powerful start in October, rallying toward $4,500 amid a surge in institutional demand. Our latest Ethereum price prediction examines the key technical breakout and the $1.3 billion in weekly ETF inflows fueling this move.
ETF Inflows Fuel a Bullish Ethereum Price Prediction
The fundamental case for a higher Ethereum price prediction is strong. Spot Ethereum ETFs recorded over $1.3 billion in net inflows this week, a sharp reversal from the previous week’s outflows.
Consequently, cumulative inflows are now at $14.42 billion and are on track to surpass the $15 billion milestone. This institutional demand, led by BlackRock’s ETHA fund, provides a solid foundation for continued price appreciation.
Technical Analysis Supports the Rally
From a technical perspective, the Ethereum price prediction is equally promising. The daily chart shows ETH has broken above the key $4,106 resistance level and has formed a bullish flag pattern.
This pattern typically indicates a continuation of the prior uptrend. Therefore, if the breakout holds, the path is open for a move toward the $5,000 resistance level, with a potential extension to $5,625.
Macroeconomic Tailwinds Provide Support
The optimistic Ethereum price prediction is further supported by macroeconomic factors. Specifically, weak jobs data has increased expectations for Federal Reserve rate cuts, boosting demand for risk assets like cryptocurrencies.
Additionally, the ongoing U.S. government shutdown has driven investors toward perceived safe-haven assets, further supporting crypto markets.
