Ethereum (CRYPTO: ETH) is coiling for its biggest move in months, pressing against a decisive $4,750 resistance that traders say could unlock a rally toward $5,000.
With $171 million in fresh outflows signaling whale accumulation, the setup is shaping into a do-or-die test that could define ETH's role in the next leg of the bull cycle.
Ethereum Price Rebound Sparks $5,000 Hopes
ETH Price Analysis (Source: TradingView)
On the daily chart, Ethereum price continues to rebound from the $3,850 support zone while maintaining its ascending trendline from April.
The setup remains constructive for buyers, supported by a clear bullish alignment of moving averages — the 20 EMA at $4,251 sits above the 50 EMA at $3,976, which in turn is above the 100 EMA and 200 EMA around $3,536.
ETH has reclaimed both the 20- and 50-day EMAs after last week's correction, suggesting short-term momentum has improved.
The $3,850–$3,975 region now acts as a critical demand zone, while the upper boundary of the consolidation pattern near $4,750 remains the primary resistance to watch.
The On-Balance Volume (OBV) indicator remains elevated at 12.66 million, suggesting steady accumulation even during volatile sessions.
$171 Million Ethereum Outflows Hint at Whale Accumulation
ETH Netflows (Source: Coinglass)
Exchange netflow data shows $171 million in outflows on Oct. 13, according to Coinglass, as ETH traded around $4,222.
Persistent outflows typically signal that large holders are moving tokens off exchanges into storage, reducing immediate sell pressure.
However, data since August reveals a mixed pattern of inflows and outflows, suggesting that while accumulation continues, conviction among traders remains divided near higher resistance zones.
Sustained outflows will be key for ETH to build momentum toward retesting the $4,750–$5,000 region.
ETH Weekly Structure: $5,000 Breakout or $2,700 Collapse Ahead
ETH Supply And Demand Zones (Source: TradingView)
From a broader perspective, Ethereum remains capped under the $4,800–$5,000 supply zone, which has triggered multiple reversals since 2021.
Sellers remain active near this resistance, but bulls have repeatedly defended the $3,850 level.
If ETH price loses that zone, the next major support sits at $2,776, aligning with the lower boundary of the long-term consolidation range.
A confirmed break above $5,000, however, would mark a technical shift toward a new cyclical phase with potential to target fresh all-time highs.
Outlook
Ethereum's fight inside the $4,750–$5,000 band is more than a technical test, it is the same zone that rejected every breakout attempt since 2021.
Each defense of $3,850 builds pressure that could make this attempt different.
With Bitcoin (CRYPTO: BTC) already stabilizing near its support zone, ETH's ability to crack $5,000 would confirm that capital rotation is broadening, not just consolidating around BTC.
If that breakout holds, Ethereum could rewrite its role in the cycle from secondary mover to co-leader of market momentum.
Read Next:
Image: Shutterstock
© 2025 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
