In the latest Ethereum price prediction, analysts question whether the recent ETH USD Price technical breakout is genuine or a bull trap.

Ethereum price held steady near $3,850 during late US trading on Thursday as market desks weighed record derivatives activity against uneven spot ETF flows and mixed year-end forecasts from major banks.

According to Coingecko data, the Ethereum price was trading at $3,836, showing a slight increase of approximately 2%, in line with Bitcoin as the broader crypto market recovered.

Data from CME showed institutional activity in its crypto suite reached fresh highs this week, with ETH options open interest around $9Bn and futures open interest hitting a record of roughly 48,600 contracts.

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Daily tracker Farside Investors reported that on October 22, BlackRock’s ETHA fund recorded about $110.7M in inflows, while Fidelity and Grayscale logged withdrawals that pulled the group’s net balance to roughly $38M.

The figures highlight a divided market: institutions are building exposure through regulated derivatives, yet spot ETF demand remains cautious as traders debate where Ether could end the year.

According to a Reuters report, Citi set a base target of $4,300 for Ether, warning that “current prices are above activity estimates.”

The bank outlined a bullish scenario at $6,400 and a downside case at $2,200, depending on adoption trends and broader market conditions.

As per another Reuters report, Standard Chartered took a more optimistic view, raising its year-end target to $7,500.

Analyst Geoff Kendrick said growing stablecoin use and staking demand could strengthen Ethereum’s fundamentals.

“We expect the stablecoin sector to grow about eightfold by the end of 2028,” he noted.

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By late Thursday, Ether was hovering around $3,850, holding between near-term support in the $3,700 zone and resistance near $4,100.

Traders said direction now depends on fund flows and the broader macro environment.

Technically, Ethereum’s daily chart points to a bullish shift. The price has broken above a long-term descending trendline that had capped rallies since 2021.

This breakout signals a change in structure, turning the $3,800 level from resistance into new support.

(Source: X)

Ethereum held steady near $3,875 early Friday, rebounding from a short-term support zone around $3,860, a level closely watched by traders.

Market analyst Crypto Tony said he is “scalping a long” while ETH stays above that area, showing confidence in a short-term bounce.

On the charts, Ethereum is retesting its breakout zone near $3,832, a typical setup before another upward move.

Ethereum’s 4-hour chart shows the market attempting to stabilize after several failed attempts to break the $4,000–$4,100 zone.

The latest candles indicate a mild rebound from the weekly low near $3,720, forming what appears to be a higher low —a pattern that often signals renewed buying interest.

Momentum indicators suggest a neutral-to-slightly bullish setup, as ETH remains above its short-term support. Still, resistance is tight around $3,900–$3,920, an area where earlier rallies lost strength.

The pattern of higher lows suggests buyers are gradually regaining control. If the trend holds, a break above $4,000 could confirm the next move higher, opening the path toward the $5,000–$5,500 range.

As long as Ethereum stays above its broken trendline, sentiment remains constructive heading into 2025.

A strong daily close above $4,000 would strengthen that outlook and mark the start of a broader uptrend.

A decisive move above that could pave the way toward $3,980–$4,020. On the downside, losing the $3,860 level could leave ETH vulnerable to another dip toward $3,740.

In short, Ethereum is still in a recovery phase.

Bulls are trying to reclaim control, but the next move will depend on whether the price can break through near-term resistance with volume and conviction.

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Read original story Ethereum Price Prediction: Is ETH’s Technical Breakout Real or Another Bull Trap Above $3,800? by jrmiller at 99bitcoins.com