- Spot ETF inflows and declining reserves boost the outlook for higher Ethereum prices.
- Reported Ethereum reserves by Jack Ma add confidence to market sentiment.
- Support at $4,400 and resistance at $4,800 are the 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 inflows into spot ETFs, and notable accumulation headlines — including reported strategic reserves tied to Jack Ma — have helped strengthen bullish sentiment among traders and analysts.
Institutional inflows driving momentum
U.S. spot Ethereum ETFs continue to draw significant attention, recording $420.90 million in inflows on October 7, marking the seventh consecutive day of positive net flows.
These inflows not only boost liquidity but also indicate growing institutional confidence, which could support a medium-term rebound toward the $4,900–$5,000 range.
Persistent demand has coincided with falling exchange reserves, which have dropped to a three-year low of 17.4 million ETH.
Corporate treasuries and the supply-reducing effects of EIP-1559 burn mechanisms further tighten available supply, creating a backdrop that could accelerate price appreciation.
Technical patterns point to a possible ETH breakout
Ethereum’s price action over recent weeks shows a mix of consolidation and cautious upward pressure.
The token has been trading around $4,450, with near-term support holding in the $4,400–$4,420 area.
Notably, an ascending triangle pattern has been forming since June, with rising support and a horizontal ceiling near $4,750–$4,800.
This formation suggests ETH could be primed for a breakout if bulls can reclaim the $4,800 level, potentially opening the path toward the psychological $5,000 mark.
Despite volatility, the Relative Strength Index (RSI) sits around 54, indicating the market remains balanced and ready for renewed momentum.
Jack Ma’s reported Ethereum reserves bolster sentiment
While details remain unconfirmed, reports that Jack Ma is building a strategic Ethereum reserve have sparked confidence, especially in Asian markets where Ethereum usage and staking activity are pronounced.
Jack Ma is building a strategic Ethereum reserve.
I’m definitely not selling. pic.twitter.com/mq2THUv0xA
— Crypto Rover (@rovercrc) October 7, 2025
The combination of symbolic corporate accumulation and healthy technical positioning has renewed interest among retail and institutional investors.
The report adds another layer of confidence to the bullish narrative, complementing steady ETF inflows and shrinking exchange balances.
Key Ethereum price levels to watch
Ethereum’s recent correction from $4,800 to about $4,450 highlights that the market remains somewhat volatile.
Hourly charts show resistance near $4,600 and primary support around $4,400–$4,420.
If ETH fails to hold the $4,400 support, further declines toward $4,320 or even $4,150 are possible.
However, analysts generally view such pullbacks as momentum resets rather than trend reversals, particularly given that Bitcoin has seen similar retests after reaching new all-time highs above $126,000.
For Bitcoin, some commentators have projected targets as high as $140,000 later in October, which could, as usual, lift overall crypto market sentiment and indirectly support Ethereum’s price outlook.
If Ethereum can maintain levels above $4,400, it may allow bulls to reassert control and push the token toward the next major target zone near $4,950–$5,050.