Altcoins News

Story: Ethereum’s 3-Week Chop Explained: Is a Bull Run on the Horizon

By Julie Binoche

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Ethereum’s Range-Bound Struggle. For most of October, Ethereum’s price has hovered around the $3,900 mark, failing to sustain any…

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Is Ethereum Consolidating or Capitulating?. The big question is whether Ethereum’s recent behavior represents capitulation or consolidation.

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Exchange Reserves Point to Tightening Supply. Ethereum’s total exchange reserves have fallen by nearly 4 billion to 61 billion, a decline that…

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Institutional Sentiment Still Divided. At the institutional level, sentiment toward Ethereum remains mixed.

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Holder Conviction Anchors the Bull Case. Ethereum’s long-term health depends on HODLer conviction—and that conviction appears solid.

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What’s Next for Ethereum?. For Ethereum to confirm a bullish reversal, it needs to decisively break above the $3,900–$4,000…

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Ethereum (ETH) has been moving sideways for nearly three weeks, trading in a tight range while struggling to break above its key resistance levels.

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Adding to the concern, the percentage of ETH supply currently in profit has declined sharply—from 99% earlier in the month to around 80%.

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The Buy/Sell Pressure Delta, a key metric that measures buying versus selling activity, has also turned negative for the first time since Q2 2025.

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A closer look at Ethereum’s on-chain activity shows mixed signals. On one hand, ETF outflows—totaling around $81 million in recent days—reflect short-term investor hesitation.

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In the past 48 hours alone, approximately 200,000 ETH worth nearly $780 million were withdrawn from exchanges, according to data from Santiment.

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This supply squeeze strengthens the bullish argument. Even though price momentum has cooled, Ethereum’s on-chain fundamentals remain intact, and selling pressure appears to be…

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In simple terms, weak hands may be exiting the market, but committed holders are staying firm.

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At the institutional level, sentiment toward Ethereum remains mixed. While spot ETH ETFs have seen outflows, the magnitude is far smaller compared to earlier in the year.

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Still, Ethereum’s fundamentals are gradually improving. Developer activity remains strong, and the network’s staking participation rate continues to rise.

The Currency Analytics

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