- Ethereum could wick down to $3500-$3600 to flush out longs.
- A price retest signals the worst is nearly over.
- ETH may hit new all-time highs by late October.
Ethereum ( ETH ) is currently showing a familiar pattern, one that could briefly trap overleveraged traders before making a strong move upward. Analysts expect a potential price dip — or “wick” — to the $3500–$3600 range. This move may liquidate long positions and shake out weaker hands, setting the stage for a stronger rally.
This type of price action isn’t new in crypto markets. It’s a common strategy where the market dips just enough to flush out leveraged positions before reversing direction. Ethereum has previously shown similar setups ahead of major price runs. So, while a dip might seem bearish, it could actually be a bullish indicator.
Retest Indicates Bottoming Out
The anticipated price retest around $3600 signals that Ethereum is likely completing its correction phase. Historically, these kinds of retests have marked the end of consolidation periods. According to crypto analysts, this could mean the worst of the market uncertainty is behind us.
Technical indicators also point toward growing accumulation and declining selling pressure. These are often precursors to a breakout, and with the broader market regaining momentum, ETH looks ready to follow suit.
October Could Bring a New All-Time High
Looking ahead, the forecast for Ethereum is optimistic. If this predicted wick plays out, ETH could begin its parabolic run as early as mid-to-late October. Market sentiment, upcoming spot ETF updates, and overall bullish macro trends all support the case for a new all-time high (ATH) in the near future.
Traders and investors are advised to stay patient and avoid emotional decisions during this final phase of volatility. If ETH holds key support zones and breaks past $4000, we could see it reach new record levels by the end of October.
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