Ethereum (ETH) Price Surge: Analysts Predict $4,400 Target as Strong Support Holds Firm

Ethereum bulls are back in the driver's seat as ETH defies gravity—climbing toward a $4,400 target while support levels refuse to crack. Here's why traders are betting big.

The Setup: ETH's Stealth Rally

No flashy headlines, just relentless upward momentum. Ethereum's price action mirrors institutional accumulation—quiet but deadly for shorts.

The Catalyst: Liquidity Hunting $4,400

Market makers smell blood. With spot demand absorbing every dip, the path of least resistance points north. Even crypto skeptics can't ignore the volume.

The Punchline: Wall Street Plays Catch-Up

While traditional finance debates 'digital gold,' ETH's ecosystem quietly does the work—settling billions daily. Maybe banks will notice... eventually. (Don't hold your breath.)

TLDR

• Ethereum dropped 12% over the past week but has started a recovery above $3,350
• The cryptocurrency is currently trading at $3,419.46 with a market cap of $412.72 billion
• Total value locked in Ethereum’s network fell 24% to $74.2 billion over the past 30 days
• Technical analysts identify key resistance at $3,720 with potential targets at $4,400 and $4,955
• The upcoming Fusaka Upgrade scheduled for early December could improve network efficiency

Ethereum has begun recovering after a difficult week that saw the cryptocurrency decline approximately 12%. The second-largest cryptocurrency by market cap is currently trading at $3,419.46.

Trading volume over the past 24 hours reached $30.65 billion. Ethereum’s market dominance stands at 12% of the total cryptocurrency market.

The price briefly touched the $3,400 mark during last week’s decline. Analysts have identified strong liquidity clusters between $3,200 and $3,350.

Network Activity Shows Cooling Trend

Ethereum’s ecosystem has experienced a slowdown in recent weeks. The total value locked in the network dropped to approximately $74.2 billion, representing a 24% decrease over 30 days.

DApp activity on the network fell to $80.7 million in October. This reflects slower network performance and reduced staking rewards across the ecosystem.

A recent attack on Balancer v2 resulted in $120 million in losses. This event contributed to the overall decline in total value locked.

Trading metrics indicate cautious market sentiment. Volume decreased 391.6% to $57.71 billion, while open interest fell 0.09% to $39.16 billion.

The OI-weighted funding rate remains low at 0.0073%. This indicates minimal bullish leverage in the derivatives market.

Corporate treasury holdings continue to increase despite weak ETF flows. Institutional appetite has not diminished even as short-term price pressure mounts.

Technical Analysis Points to Recovery Pattern

Ethereum managed to stay above the $3,200 support level before starting its recovery wave. The cryptocurrency climbed above the $3,350 and $3,400 resistance levels.

A bearish trend line with resistance at $3,350 was broken on the hourly chart. The price surpassed the 50% Fibonacci retracement level of the downward MOVE from $3,920 to $3,058.

The upward move pushed ethereum above $3,620 temporarily. The price is now trading above the 100-hour Simple Moving Average.

Ethereum has held support NEAR the Volume Weighted Average Price since April 7. Analyst Donald Dean notes increasing lows since November 4, suggesting accumulation at current levels.

$ETHUSD $ETH Ethereum – Hitting VWAP as Support

Price Targets: $4400, $4955

ETH is hitting the volume weighted average price that has shown support since April 7. Current price looks to be working out support and a potential bottom. Higher lows thus far since 11/4.

The next… pic.twitter.com/DLBqEAoPjo

— Donald Dean (@donaldjdean) November 9, 2025

The next resistance level sits near $3,650. A move above this point could lead to tests of $3,720 resistance.

The 76.4% Fibonacci retracement level of the recent downward move aligns with the $3,720 resistance zone. A clear break above $3,750 could send the price toward $3,820.

Longer-term targets include $4,400 and $4,955. These levels coincide with important volume zones that could confirm a breakout pattern.

If momentum continues, Ethereum could eventually revisit its 2021 highs. The hourly MACD is gaining momentum in the bullish zone while the RSI trades above 50.

Initial support on the downside remains near $3,580. The first major support sits at $3,500, with additional support at $3,450 and $3,350.

The Fusaka Upgrade scheduled for early December could serve as a positive catalyst. The upgrade is expected to improve network scalability and security.