Traders remain confident that Ethereum will set a new all-time high and climb above $5,000 in the coming months. On the Myriad platform, the probability of reaching this level is estimated between 73% and 80%, even after the recent price drop triggered by a sharp market sell-off.

“Bulls are still in control, and the technical picture looks positive,” analysts note. The Average Directional Index (ADX) for ETH is holding at 39, confirming the strength of the trend, while the RSI sits at 58, allowing room for growth without signs of overheating. The golden cross of moving averages and the active signal from the Squeeze Momentum indicator point to sustained long-term bullish momentum.

Key levels remain resistances at $4,800 and $5,000–$5,200, along with supports around $4,000 and $3,500. Historically, September is considered a weak month for crypto markets, but October (“Uptober”) traditionally brings gains. If support holds, a move toward $5,000 could materialize as early as this fall.