- Spot ETF inflows and declining reserves improve Ethereum’s bullish outlook.
- Reported ETH holdings tied to Jack Ma add optimism to market sentiment.
- The $4,400 support and $4,800 resistance are key levels to watch.
Despite the recent market pullback, Ethereum’s technical and macro fundamentals point to a potential recovery in the near term.
Strong institutional demand, continued spot-ETF inflows and notable accumulation headlines — including reports of a Jack Ma-linked ETH reserve — have strengthened bullish sentiment among traders and analysts.
Institutional inflows are accelerating momentum
U.S. spot Ethereum ETFs remain a focal point, registering $420.90 million of inflows on October 7 — the seventh consecutive day of positive flows.
These inflows not only bolster liquidity but also signal rising institutional confidence, which is likely to support a medium-term rebound toward the $4,900–$5,000 range.
Persistent demand has coincided with shrinking exchange reserves, which have fallen to a three-year low of 17.4 million ETH.
Corporate treasuries and the EIP-1559 burn mechanism are further tightening supply, creating a backdrop for potential price acceleration.
Technical patterns point to a possible ETH breakout
Ethereum’s price action in recent weeks shows a mix of consolidation with cautious upside pressure.
The token has been trading near $4,450, with short-term support around $4,400–$4,420.
Since June, a rising triangle pattern has formed, featuring an ascending support line and a horizontal ceiling near $4,750–$4,800.
This formation suggests ETH may be poised for a breakout if bulls can reclaim the $4,800 area, opening the path to the psychological $5,000 milestone.
Despite volatility, the relative strength index (RSI) hovers around 54, indicating balanced markets that are ready for renewed momentum.
Jack Ma-linked Ethereum reserve lifts sentiment
Although details remain unconfirmed, reports that Jack Ma is building a strategic Ethereum reserve have fueled optimism, particularly across Asian markets where ETH adoption and staking activity are strong.
Jack Ma is building a strategic Ethereum reserve.
I’m definitely not selling. pic.twitter.com/mq2THUv0xA
— Crypto Rover (@rovercrc) October 7, 2025
Symbolic corporate accumulation combined with healthy technical positioning has reignited interest from both private and institutional investors.
The report adds confidence to the bullish narrative and complements ongoing ETF inflows and falling exchange balances.
Key Ethereum price levels to watch
The recent retracement from $4,800 to roughly $4,450 underscores that markets remain somewhat volatile.
Hourly charts show resistance near $4,600 and key support between $4,400 and $4,420.
If ETH fails to hold the $4,400 support, further declines to $4,320 or even $4,150 are possible.
Analysts, however, argue these pullbacks look more like momentum resets than trend reversals, especially given that Bitcoin has been undergoing a similar retest after reaching a new all-time high.
Some forecasters predict continued upside in the broader crypto market, which typically lifts Ethereum’s outlook as well.
If Ethereum remains above $4,400, bulls may regain control and push the token toward the next major targets around $4,950–$5,050.