Price Analysis

Has Ethereum Price Bottomed? Here’s What Traders Should Know

Ethereum price eyes a major reversal with a double-bottom pattern forming at $2,200 support, fueled by whale accumulation and reduced selling pressure
Published by
Has Ethereum Price Bottomed? Here’s What Traders Should Know

Highlights

  • The anticipated 0.5% rate cut by the U.S. Federal Reserve has sparked renewed interest in risky asset classes like cryptocurrency.
  • The Ethereum price poised for $2800 breakout amid the formation of double bottom reversal pattern.
  • The network realized profit/loss data signals reduced selling pressure after a major panic selling in early September.

Ethereum’s price rebound from the $2,200 support zone suggests the formation of a bullish double-bottom pattern. This potential bottoming signal is reinforced by increased inflows into spot ETH ETFs, whale accumulation, and reduced selling pressure from retail investors. Are buyers ready to seize control?

Advertisement

Ethereum Price Bottom in Sight? How to Position for Next Bull Run

The crypto market took a bullish turnaround from the 2nd week of September as the U.S. The Federal Reserve is expected to deliver a 0.5% rate cut at Wednesday’s FOMC meeting. This would be the first rate cut in four years, with a potential impact reaching beyond the U.S. market. Typically, this move boosts economic activities and increases investment in risky assets like cryptocurrency. Thus, the leading digital assets, Bitcoin and Ethereum, are poised for a potential price recovery amid the macroeconomic event.

According to the network realized profit/loss data from Santiment, the Ethereum holders recently witnessed a major capitulation of 31,702 ETH on September 10th. Typically, this indicates the removal of the weak hands from the market and reduces the selling pressure on an asset. A similar pattern occurred during the August 5th panic selling, which helped establish stable support for ETH around the $2200 level.

Network realized profit/loss | Santiment

Additionally, the supply held by top addresses has been steadily increasing to reach 43.98%, reflecting strong confidence in Ethereum price potential growth.

Supply Held By Top Addresses | Santiment
Advertisement

ETH Price Eyes Major Reversal Amid Double Bottom Formation

The Ethereum price 4-hour chart shows an immediate reversal from $2150 support on September 7th. This second reversal within 5 weeks accentuates active demand pressure which uplifted the asset 7.5% to current stabilize at $2300. Consequently, the Ethereum market cap boosted to $277.9 Billion.

The recovery momentum also revealed double bottom formation, a chart often spotted at the end-of-correction trend. If the pattern holds true, the ETH price could surge 21% up to challenge $2800, followed by $3100.

A decisive higher low formation in the relative strength indicator signals the buying pressure at the $2200 support region.

ETH/USDT – 1d Chart

On the contrary note, the ETH supply on exchange has surged to 21.3 Million coins, indicating the risk of profit taking from speculative traders. Therefore, if the $2800 stands firm, the Ethereum price prediction could lead to a prolonged consolidation trend and rechallenge the $2000 bottom support.

ETH Supply on Exchange | Santiment

Conclude:

Despite the increasing ETH supply on exchange, the active accumulation from whale/institutions amid a major reversal pattern indicate a bullish outlook for Ethereum price.

Advertisement

Frequently Asked Questions

What does the double bottom formation indicate for Ethereum? The

A double bottom formation suggests a potential reversal in Ethereum's price, which could lead to a 21% surge.

How has Ethereum's network realized profit/loss impacted market sentiment?

Recent data shows reduced selling pressure following a major panic sell-off, indicating a shift towards a more bullish market

Why is Ethereum's supply held by top addresses important?

The increasing supply held by top addresses, now at 43.98%, reflects growing confidence in Ethereum’s price potential and long-term growth
Share
Sahil Mahadik

Sahil is a dedicated full-time trader with over three years of experience in the financial markets. Armed with a strong grasp of technical analysis, he keeps a vigilant eye on the daily price movements of top assets and indices. Drawn by his fascination with financial instruments, Sahil enthusiastically embraced the emerging realm of cryptocurrency, where he continues to explore opportunities driven by his passion for trading

Published by
Why trust CoinGape: CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights to our readers. Our journalists and analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.
Ad Disclosure: This site may feature sponsored content and affiliate links. All advertisements are clearly labeled, and ad partners have no influence over our editorial content.

Recent Posts

  • Price Analysis

FLOKI Price Prediction as ETP Listing Drives Adoption—Is a 160% Rally Ahead?

Floki price has drawn strong attention after recording a bullish daily surge of over 30%.…

October 4, 2025
  • Price Analysis

BNB Coin Price Hits ATH as Derivatives Activity Soars—Is $1,520 the Next Stop?

BNB Coin price has entered a powerful phase after breaking through a major resistance level…

October 4, 2025
  • Price Analysis

Aster Price Eyes $3 After Channel Breakout as Open Interest Surges to $1.37B

Aster price has recently shown strong signals on the chart, with a breakout from its…

October 3, 2025
  • Price Analysis

Will XRP Price Hit $5 if the SEC Approves ETFs This Month?

XRP price could be on the cusp of a big move in the coming weeks…

October 3, 2025
  • Price Analysis

Bitcoin Price Hits $120K Ahead of Q4 — Can Citigroup’s Forecast Hold Up?

Bitcoin price has recently surged to the $120K mark, reclaiming momentum and sparking fresh optimism…

October 3, 2025
  • Price Analysis

Pi Network Price at Risk of Another Crash as Mysterious Whale Stops Buying

Pi Network price has crashed by over 90% from its highest level since its mainnet…

October 2, 2025