Ethereum Price Holds at $3,900 Today — Is a Rally to $4,500 Next?

Jakarta, Pintu News – As reported by Cointelegraph, Ethereum (ETH) has bounced back more than 15% two weeks after plummeting to a two-month low of $3,435. Some indicators now suggest that ETH may continue its recovery to reach around $4,500 by the end of October.

Ethereum Price Up 1.83% in 24 Hours

As of October 20, 2025, Ethereum was trading at approximately $3,941, or around IDR 65,829,337 — marking a 1.83% increase over the past 24 hours. During this period, ETH dipped to a low of IDR 64,378,319 and climbed to a high of IDR 67,170,341.

At the time of writing, Ethereum’s market capitalization is estimated at around IDR 7,881 trillion, while its daily trading volume has surged by 48% in the last 24 hours, reaching IDR 507.37 trillion.

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ETH Price Bounces in a Bull Flag Pattern

Ethereum’s price recovery appears to be forming a bull flag pattern, a structure that often indicates a continuation of an uptrend after a brief period of consolidation.

In the case of ETH, this pattern is seen as adescending parallel channel that formed after a sharp rally from its April low around $2,500 to its August peak around $4,950, as shown in the chart.

The latest bounce off the lower boundary of the channel, which is near $3,500, coincides with the support of the 200-day exponential moving average (200-day EMA; marked by the blue wave), a level that historically attracts buyers when prices fall in a bull market.

If the recovery momentum continues, ETH could potentially break out towards the upper boundary of the channel, which is in the range of $4,450-$4,500 in October.

This short-term upside target is in line with technical analysis from analysts named FOUR, which shows a double bottom pattern with neckline resistance around $4,750 expected to be reached in the coming days.

Meanwhile, a trader named Luca also expects ETH to rise towards $4,500 (red area in the chart) as the price is still holding above the weekly bull market support band, which is marked by the yellow area.

If the price manages to break out of that area, ETH has the potential to reach a bull flag target above $5,200-a new price record that may occur in November.

However, if there is a drop below the support confluence area-the lower boundary of the bull flag and the 200-day EMA around $3,550-this pattern could be invalidated, and ETH may experience a deeper correction towards the $3,000-$3,200 range.

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Ethereum MVRV Strengthens Target to $4,500

Ethereum’s MVRV Extreme Deviation Pricing Bands indicator shows that the recent price decline is starting to stabilize around themean band at around $3,900 – a level that has historically been the starting point for new rallies.

Every time ETH bounces off this midpoint – including in early 2021, mid-2023, and early 2024 – its price tends to rise towards the +1σ(positive standard deviation) band, which is currently around $5,000.

This structure indicates that ETH is still in the “healthy correction” phase of the ongoing bull cycle, rather than being in the uptrend exhaustion phase. Therefore, a price push towards the $4,500-$5,000 zone until the end of October is statistically quite possible, provided that this average level continues to serve as support.

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*Disclaimer

This content aims to enrich readers’ information. Pintu collects this information from various relevant sources and is not influenced by outside parties. Note that an asset’s past performance does not determine its projected future performance. Crypto trading activities have high risk and volatility, always do your own research and use cold cash before investing. All activities of buying and selling bitcoin and other crypto asset investments are the responsibility of the reader.

Reference:

• Cointelegraph. Can Ethereum price reclaim $4,500 in October? Accessed on October 20, 2025