Ethereum Price Forecast Ahead of October 6 Glamsterdam Sepolia Testnet

Ethereum (ETH) price is dropping alongside the broader crypto market as rising oil prices and US Treasury yields push investors away from risk assets.

The drop comes despite rising inflows to Ethereum ETFs and the upcoming Sepolia testnet launch on October 6.

ETH price today is down by 3% today, September 24, to trade at $2,657 at the time of writing.

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Ethereum Sets October 6 Testnet Launch

Ethereum will complete the first public testnet for the Glamsterdam upgrade on October 6. The Sepolia testnet will allow developers to test whether the Glamsterdam upgrade will work with the existing smart contracts on Ethereum without a hitch.

Ethereum will also undergo the Hoodi testnet on October 27, and this will be the second testing environment that will test how the Glamsterdam upgrade affects cross-chain interactions.

If the upgrade clears these two testnet phases, it will be rolled out to the mainnet before the end of Q4 2026.

Glamsterdam will be one of the biggest upgrades to take place on Ethereum since The Merge in 2022. It seeks to reduce transaction costs and triple the throughput, which could bolster network usage.

The upgrade also comes as Ethereum co-founder Vitalik Buterin focuses on making the network quantum-resistant.

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Ethereum’s 30-day Volatility Hits a 6-Month High

Data from CryptoQuant shows that Ethereum’s 30-day realized volatility on Binance has increased to 0.73, with this being the highest volatility reading since March 2026.

The increase comes as Ethereum price fluctuates between $1,800 and $2,800 between August and September 2026.

However, CryptoQuant analyst Arab Chain noted that the rising volatility does not suggest that the future Ethereum price outlook will rise or drop. Instead, he noted that if the volatility continues to increase, it might precede stronger movements in Ethereum price.

The rise also comes as Ethereum price records 6.94% returns in September 2026 so far, with this being the highest returns that ETH has seen in September since 2016.

ETH ETFs Record Four Consecutive Days of Inflows

Data from SoSoValue shows that there have been inflows to Ethereum ETFs for four straight weeks. These inflows point towards increased demand for Ethereum ETFs by institutions.

The BlackRock Ethereum Trust (ETHA) is also close to the $10 billion mark with $9.7 billion in net assets per SoSoValue.

The Morgan Stanley Ethereum ETF that launched in July 2026 has also amassed $53 million in inflows, inching it closer to surpassing Franklin Templeton’s ETF with inflows of $59 million.

Ethereum Price Stalls After Breaking 200D EMA

Ethereum price moved above the 200-week EMA at $2,459, amid a surge in buying pressure.

However, the gains have stalled, and Ethereum is now dropping to retest the support at the 200-week EMA.

If the support holds, Ethereum price could resume the uptrend to the 123.6% Fib of $2,940. However, if the support does not hold, ETH could move to the 50-day EMA at $2,400.

The AO bars that are green suggest that the momentum is favoring bulls. These bars are also growing in length, which also suggests that bulls are tightening their grip.