Ethereum Updates Today: Large Investors and Experts Support Ethereum’s Upward Potential Amid Broader Economic Uncertainties

Ethereum investors are showing renewed confidence despite recent price drops, as both technical signals and blockchain data indicate the possibility of a recovery for the world's second-largest cryptocurrency. Market analysts and large-scale holders are pointing to a resurgence in bullish sentiment, although broader economic factors such as U.S. inflation reports and ETF movements will play a significant role in the near future.

A prominent "smart trader" whale has expanded their

holdings to $131 million, demonstrating optimism about the asset’s short-term outlook. , CryptoQuant’s research identifies a classic continuation pattern in Ethereum’s price, with targets at $4,250 and potentially $10,000 if crucial resistance levels are maintained. Well-known crypto analyst Jelle supports this view, stating that Ethereum’s ability to hold previous highs makes a move into "price discovery" only a matter of time.

Technical analysis also favors the bulls. Ethereum has climbed back above $4,200, with exponential moving averages (EMAs) indicating a shift in sentiment. The 9-day EMA is trending upward, and the 20-day EMA has leveled off, pointing to fading bearish pressure. Meanwhile, the MACD histogram turning positive signals increasing buying interest,

. A clear move above $4,450 could confirm a larger bullish trend, opening the door to further gains toward $4,684 and higher.

Still, Ethereum must contend with macroeconomic challenges. The upcoming U.S. CPI data, which is anticipated to show a 3.1% annual inflation rate, could introduce volatility. A higher-than-expected reading may strengthen the dollar and spark renewed short-term bearishness, but analysts suggest that a lower CPI could encourage risk-taking in crypto, according to

. The FOMC meeting and the possibility of a U.S.-China trade agreement are also key events, with traders watching for changes in market liquidity.

Blockchain data presents a mixed scenario.

show that Ethereum ETFs experienced $127.5 million in outflows as of October 23, while ETFs saw $20.33 million in new investments, suggesting a shift toward Bitcoin. Despite this, Ethereum’s recent price behavior points to accumulation. A "triple bottom" pattern near $3,750–$3,800 highlights strong support, and Glassnode data shows that large investors are increasing their holdings, .

Bears warn against excessive optimism. The weekly chart for Ethereum reveals a failed breakout from a three-year horizontal zone at $3,950, with bearish engulfing candles and a weak RSI hinting at possible further declines, as reported by

. If Ethereum falls below $3,950, it could signal a longer-term downtrend, though immediate support at $4,075 remains a key level to monitor.

Wider market conditions add further complexity. Bitcoin’s recent price—hovering around $111,300—has overshadowed Ethereum’s struggles, with October’s gains falling short of past bull market standards. Nevertheless, Ethereum’s technical strength, combined with whale accumulation, suggests a possible short squeeze above $4,200 if macroeconomic news is favorable, according to Coinpedia’s live updates.

Looking ahead, Ethereum’s direction will depend on three main factors: the CPI release, ETF activity, and ongoing on-chain buying. For now, bulls are cautiously hopeful that a sustained move above $4,450 could spark renewed enthusiasm across the market.