Ethereum Price Prediction: Analysts Eye $4,250 Recovery As BitMine Accumulate $480M In ETH

Ethereum (CRYPTO: ETH) price today is trading near $3,845, up 2.5% in the past 24 hours as buyers step back in following a steep correction. The rebound comes amid reports of large institutional purchases totaling nearly half a billion dollars in ETH and on-chain inflows turning positive after two days of heavy selling.

The daily chart shows Ethereum bouncing from a confluence of technical supports between $3,600 and $3,526, where the 200-day EMA aligns with the long-term ascending trendline. This zone served as a strong base during the June and August consolidations, suggesting that buyers are once again defending the structure.

Immediate resistance lies near $3,965, coinciding with the 100-day EMA. A breakout above this level could trigger momentum toward $4,240–$4,250, where both the 20-day and 50-day EMAs converge. Above that, the broader resistance zone at $4,600–$4,800 remains the next major test for bulls.

The RSI at 37.5 indicates near-oversold conditions, signaling potential for a continuation of the rebound. With price recovering from the lower Bollinger band and holding above the long-term trendline, the structure remains technically intact.

On-chain data from October 12 recorded $112 million in positive net inflows, reversing the trend after days of persistent outflows. The sharp inflow aligns with a stabilization in spot price near $3,800, pointing to renewed institutional participation following the selloff.

Further supporting this, a major disclosure from market analyst Ted Pillows revealed that Bitmine purchased $479.8 million in ETH over the last 24 hours through exchanges such as Kraken and FalconX. The transaction data confirms multiple large transfers, ranging from $34 million to $104 million per batch, underscoring strong confidence among professional investors.

Analysts view these moves as signs that large funds are using the correction as an opportunity to accumulate ETH at lower prices, consistent with historical patterns seen during mid-cycle pullbacks.

Ethereum’s near-term direction depends on whether it can sustain above $3,600 and break through $3,965. The combination of strong on-chain inflows, institutional buying, and RSI recovery provides early signs of stabilization.

As long as ETH holds above the $3,526 trendline support, analysts see potential for a recovery toward the $4,250–$4,600 range in the coming sessions. A breakout above $4,250 could shift sentiment decisively bullish, while any loss of $3,600 would invalidate the rebound and bring $3,200 back into focus.