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The Ethereum price surge continued early Tuesday, with the second-largest cryptocurrency climbing above $4,700 for the first time since July, signaling renewed market optimism. According to data from crypto.news, Ethereum was trading around $4,716, up roughly 4% in the last 24 hours, with a market capitalization of $570 billion and daily trading volume near $40 billion.
The latest Ethereum price surge forms part of the broader “Uptober” rally that has seen digital assets post significant gains, with Bitcoin and leading altcoins also climbing higher.
Ethereum’s performance has been particularly strong over the past week, registering an 11% rise as investor confidence strengthens around on-chain growth and exchange-traded fund (ETF) inflows.
“The closing of this round is an important milestone. We now move forward with our bitcoin strategy, aiming to offer investors transparent access to this unique asset class,” — Lucas Wensing, CEO and AMBTS co-founder, in a related statement.
One of the main catalysts behind the Ethereum price surge has been sustained inflows into U.S.-listed Ethereum ETFs, which have seen $177 million in new investments during the latest session. Cumulative inflows over the past six trading days have now reached approximately $1.47 billion, signaling growing institutional appetite for exposure to ETH.
This steady stream of ETF demand has provided critical support for Ethereum’s rebound, reflecting broader confidence in the network’s long-term fundamentals. Analysts note that Ethereum’s ecosystem — particularly its staking yields, decentralized finance (DeFi) protocols, and layer-2 growth — continues to attract institutional capital.
As one market observer noted, “The Ethereum price surge demonstrates how traditional investment vehicles are now amplifying crypto market cycles, turning institutional participation into a primary driver of short-term rallies.”
Chart data shows that Ethereum price surge has broken out of a descending channel that had constrained movement through September. The asset is now forming an ascending structure similar to that observed during its July rally, when ETH nearly touched the $4,900 mark.
Currently, Ethereum trades just above its 30-day simple moving average (SMA) near $4,330, which has flipped into short-term support. The relative strength index (RSI) has rebounded toward the 50 level, indicating reduced selling pressure and suggesting more room for upward movement.
Immediate resistance is set at $4,700, a level Ethereum has successfully reclaimed this week. A close above this mark could open the path toward $5,000, aligning with the upper boundary of the newly developing ascending channel. On the downside, maintaining support above $4,100–$4,200 remains essential for preserving the bullish trend.
The ongoing Ethereum price surge has also been fueled by the optimistic tone across digital assets this month. Bitcoin’s strong rebound, combined with macroeconomic stability and reduced inflation fears, has provided a supportive environment for altcoins.
Market participants remain focused on whether Ethereum can sustain its climb and confirm a breakout toward $5,000, a level that could mark the start of a new market cycle. However, analysts caution that overbought conditions and potential profit-taking could trigger temporary pullbacks before another leg higher.
As Ethereum solidifies its position as the foundation of the decentralized economy, the Ethereum price surge underscores its pivotal role in driving the next phase of institutional crypto adoption.
