Jakarta, Pintu News – The price of Ethereum (ETH) continues to spark debate as cyclical theories and regulatory approvals shape its movements. According to analyst Ted Pillows, the market is currently evolving in a recognizable pattern, characterized by phases of optimism, correction, and euphoria.
The chart he shows depicts the stages of confidence and excitement, which hints at the potential for short-term weakness but also the opportunity for long-term price peaks.
Then, how is Ethereum’s current price movement?

On September 25, 2025, Ethereum’s price was recorded at approximately $4,013, or around IDR 67.49 million, marking a 3.55% decline over the past 24 hours. Within that period, ETH slipped to a daily low of IDR 67.23 million and reached as high as IDR 70.40 million.
At the time of writing, Ethereum’s market capitalization is valued at roughly IDR 8,109 trillion, while its 24-hour trading volume has climbed 18%, reaching IDR 612.56 trillion.
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Currently, ETH price is at $4,149, indicating a consolidation phase after the previous gains. Ted Pillows emphasizes that the correction phase could push the ETH price down to the $3,600-$3,800 range before recovering.
This level corresponds to the previous support zone and is in line with the psychology of market cycles, where optimism shifts to disbelief. Interestingly, the analyst’s chart projects that Ethereum will then advance to the confidence and excitement stage, with a target near $10,000.
In the long term, this ETH price projection suggests that a temporary pullback could be part of a healthier uptrend. However, a decline that breaks $3,600 decisively could trigger a longer consolidation, resulting in a delayed recovery.
However, the pattern of higher lows since 2023 provides structural support that makes a deeper decline seem less likely. As such, the technical map reflects a cautious stance in the short term but remains bullish for the long term.
Ultimately, this roadmap indicates that Ethereum’s price is preparing for a major breakout that will define its cycle, albeit one that is still plagued by short-term volatility.
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The SEC’s decision to approve Grayscale’s Ethereum ETF under common listing standards marks an important turning point. By moving Trust and Mini Trust ETFs into rule 8.201-E, the SEC removed the need for recurring approvals.
This move creates efficiencies for issuers while providing consistency for institutional participants. The rule change also places Ethereum ETFs in the same category as commodity-based trust shares, improving regulatory alignment.
This simplification allows Ethereum products to be traded with fewer barriers, strengthening accessibility in the mainstream. This decision also signals confidence in Ethereum’s role in regulated markets.
With barriers removed, institutions now have a clearer path to gaining exposure to Ethereum’s price performance. As a result, Ethereum’s integration with traditional finance has strengthened and strengthened its prospects in the long term.
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