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The Ethereum price has pumped 2% in the last 24 hours to trade at $4,665 as of 4:00 a.m. EST on a 30% increase in the daily trading volume to $45.26 billion.
That ETH price move comes as crypto asset manager Grayscale launches the first-ever Ethereum staking ETP (exchange-traded product) in the United States, giving everyday investors new ways to earn rewards and making ETH more attractive to big buyers.
Grayscale launched the first US spot crypto ETPs with staking for #Ethereum and #Solana. pic.twitter.com/O5YWtoNoz7
— TheCryptoBasic (@thecryptobasic) October 6, 2025
This move comes after new rules allowed crypto ETPs to offer staking safely. The fund will pay out staking rewards directly or build them into their price, giving investors access to the biggest crypto income opportunity after Bitcoin mining.
News of the launch was met with bullish sentiment. Large investors now have a simpler way to hold and earn with ETH. Industry experts expect this could bring more institutional flows, which could drive prices higher in the weeks ahead.
At the same time, SharpLink Gaming, an Ethereum treasury firm, reported unrealized profits above $900 million since starting its ETH treasury strategy in June.
SharpLink holds 839,000 ETH, is debt-free, and more concentrated in ETH than ever before. This sharp accumulation signals strong confidence in Ethereum’s future, and shows big treasury players are betting on long-term growth.
Ethereum Price Gaining Momentum As Demand Rises
Wallet addresses holding ETH have increased over the past month, with more holders moving coins off exchanges and into private wallets, reducing risks of panic sell-offs and underlining support for higher prices.
ETH Number of Addresses Source: Glassnode
On-chain metrics confirm the story. Transaction volumes have also jumped recently. This increase in real user participation suggests further upside potential if current trends continue.
ETH Price Technical Analysis: Bulls Eye $4,955–$5,000
Looking at the ETHUSD price chart, Ethereum is holding steady above key moving averages, including the 50-day SMA at $4,402.20 and the 200-day SMA at $3,065.67. Staying above the $4,600 level shows continued buyer interest and a strong uptrend.
Major support sits around $4,402, which is where the 50-day SMA offers a safety net for traders. If the price drops, buyers are likely to step in near this support zone, defending against deeper selloffs. There is a second support level at around $4,250, where previous dips have reversed.
On the upside, short-term resistance stands at $4,800 and $4,900, followed by a major target at $4,955. If ETH breaks above these levels, it could quickly push toward $5,000, the 2025 high, and possibly even challenge the $7,331 mark as well.
ETHUSD Analysis Source: Tradingview
Technical indicators are positive. The RSI (Relative Strength Index) is at 61.62, which means buyers have control of the price. It also shows that ETH is not yet in dangerous overbought territory. Meanwhile, momentum is getting stronger but remains sustainable.
The MACD indicator shows the blue MACD line above the orange signal line, with both numbers positive, supporting the idea that buyers are in charge and trends are powering higher. The ADX, a measure of trend strength, is at 21.54, showing the uptrend is getting started but isn’t overheated yet.
Price action tells the same story. Since early August, ETH has kept making higher highs and higher lows, a sign that bulls control the market. Each time the price dips toward support levels, new buyers appear quickly, bouncing ETH back up.
If ETH remains above $4,600 and demand from ETP flows and treasury buyers continues, the price could rise towards the $4,955 resistance and then test further highs. In the short term, as long as the price stays above $4,402, traders will likely see small dips as buying opportunities rather than signals of a trend reversal.
If the ETH price falls below the $4,400 support, it might retest the lower support at $4,250. That could trigger some short-term selling, but current trends suggest buyers would quickly defend those levels.
Technical analysis confirms the bullish view. If momentum continues and inflows intensify, ETH could soon revisit yearly highs and potentially reach new records.
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