Ethereum Price Targets $5,430 as Selling Pressure Hits Six-Month Low

Ethereum is showing strong momentum after the U.S. Federal Reserve cut interest rates by 0.25%. While most markets reacted modestly, ETH gained around 2.2% in the past 24 hours and is now trading above $4,600. Technical charts highlight a bullish “cup and handle” pattern, with a breakout level near $4,765. If sustained, this setup points to a potential rally toward $5,430.

On-chain metrics further support the bullish case. Data from Santiment shows Ethereum’s “Spent Coins Age Band” — which measures selling activity — has dropped sharply. ETH spent fell from about 257,000 on September 17 to just 42,700 today, an 83.5% decline and the lowest level in six months. This indicates fewer holders are cashing out, reducing supply pressure.

Additional signals confirm this trend. Net Unrealized Profit and Loss (NUPL) has rebounded above $0.50, suggesting weaker hands exited while stronger holders remain. Similarly, exchange net position change shows ETH outflows rising 8% since September 14, signaling accumulation as more coins move off exchanges.

Market liquidity also appears to be improving. The Chaikin Money Flow (CMF) has climbed from -0.18 to near the zero line, hinting at fresh capital entering the market. A move into positive territory would further validate the bullish breakout.

Key support levels for Ethereum are holding at $4,489 and $4,424. However, if the price drops below $4,213, the bullish formation could fail, delaying further gains.

With reduced selling pressure, strong accumulation, and bullish technical patterns, Ethereum is positioned for a potential surge toward new yearly highs around $5,430, provided momentum holds steady.