Ethereum (ETH) is showing strong upward momentum, surging past the $4,500 mark and nearing its all-time high. The cryptocurrency's market sentiment is highly optimistic, but whether it can reach the historic $5,000 level depends on maintaining critical technical and psychological price points.
Historically, when the percentage of Ethereum addresses in profit crosses 95%—as it currently has with 97%—it often signals a potential market top, leading to short-term selling as investors realize gains. However, ETH's recent resilience suggests a shift in investor behavior. Despite entering this "profit saturation zone," the price held firm, indicating that selling pressure is limited even with many holders sitting on significant gains. This suggests that holders may be willing to retain their assets, which could sustain the short-term rally.
The Moving Average Convergence Divergence (MACD) indicator supports a continued bullish outlook, having recently registered a bullish crossover. This shift signals that ETH is moving from a period of consolidation into a potential breakout phase, which is typically associated with extended price rallies. The expansion of the MACD's histogram further reinforces this strengthening bullish momentum, which could attract more retail and institutional investment inflows.
For the rally to continue, ETH must successfully hold the $4,500 level as new support.
Conversely, if profit-taking increases and ETH loses its footing, a drop below $4,500 could trigger a short-term correction toward $4,222, which would invalidate the current bullish outlook.
October 2025, Cryptoniteuae