The price of Ether (ETH) has entered a retracement phase after reaching its all-time high last week, the previous cycle’s record of $4,800/$4,900. This pause is logical and has a well-constructed technical basis.
The price of Ether should be able to rise further by the end of the cycle in Q4 2025.
For several weeks, the price of Ether had been approaching its all-time high set in 2021, around $4,850. It is not surprising that the market is taking a breather at this stage: the rise has been rapid and such a symbolic resistance zone naturally calls for a pause.
The support zone to watch is between $3,500 and $4,100 for ETH/USD; this is where the retracement could become an opportunity, as ETH still has room to run before the end of the cycle.
The history of crypto cycles suggests that Ethereum tends to extend its upward momentum beyond the peak of Bitcoin, usually with a two- to three-week lag. If this pattern repeats itself, a sustained break above the previous record could occur in the last quarter of 2025.
The dominant fundamental factor: institutional appetite
While Ether’s performance has been impressive since the beginning of the summer, it is not based on thin air. Institutional investors, via US spot ETFs, are fueling demand and ensuring the credibility of the movement. The central role of institutional capital, already observed in Bitcoin-related products, is now evident in Ethereum, providing a solid foundation for the current trend.
Another encouraging sign comes from the ETH/BTC ratio. It has turned upward after rebounding from a major technical zone, reflecting Ether’s clear outperformance against Bitcoin. According to chart analysis, this catch-up potential is far from exhausted, suggesting that this relative momentum is likely to continue in the coming months.
A bullish scenario as long as $3,500/$4,000 provides support
In summary, the retracement of ETH is logical after the vertical rise since the end of June. This phase will only last in the short term before the uptrend resumes to establish a new high and end the cycle.
- A retracement below $4,900 (ATH) is underway, consolidating the rise of recent weeks.
- However, this is conditional on the key support level of $3,500/4,000 remaining intact.
