Ethereum's Growth Pattern: A Bitcoin October Replay?

When discussing Ethereum’s current trajectory, the parallels to Bitcoin’s October surge become increasingly apparent. ETH has been consolidating at critical levels after breaking past 4000, and this phase mirrors the psychological dynamics that trapped countless traders during Bitcoin’s run from 80k to 110k.

The Support-Resistance Flip

The traditional market principle holds: once a resistance level breaks and stabilizes, it transforms into a support floor. ETH crossed 4000 and held steady—textbook confirmation. What followed? A wave of bearish bets materialized. Traders shorting aggressively, convinced the move would reverse. Instead, the token rallied to 4200 and refused to retreat, squeezing out the trapped positions.

History repeats itself. During Bitcoin’s 80k breakout last year, liquidations cascaded as weak hands capitulated. Those forced sellers crystallized losses unnecessarily. The same dynamic is playing out with Ethereum right now.

Current Momentum and Price Targets

At $2.93K currently, Ethereum exhibits no medium to long-term short signals. The 4300 level is definitively not a ceiling—the upside runway remains clear following the 4000 breakout. If momentum sustains, 5000 is within reach, with 6000 not out of the question.

The Psychology of Consolidation

Market participants misinterpret consolidation as capitulation. That sideways action creates the illusion of a top forming. Then price gaps higher, trapping the bearish speculators once again. In a matter of days, a push to 4500 would spark market-wide frenzy as those forced into losses scramble to cover.

The lesson: don’t fight established momentum. Ethereum’s foundation is solid, resistance has converted to support, and the technical setup favors continuation over reversal.