- Ethereum is forming a bullish symmetrical triangle,a breakout could open a path to $5,000.
- Exchange reserves hit a multi-year low of 16.9M ETH, showing scarcity.
- Institutions like Fidelity pour over $213M into ETH, fueling accumulation trends.
Ethereum is flashing bullish signals as it consolidates within a symmetrical triangle, while exchange reserves plunge. Trading at $4,541.95, ETH faced a 1.32% dip in 24 hours but gained 0.26% over the past week, hinting at a major breakout.
Bullish Triangle Shows Breakout Potential
Ethereum is showing strong bullish structure on the daily chart, forming a classic symmetrical triangle following an aggressive uptrend from July to early September. This technical setup often precedes a continuation move — in this case, pointing toward a possible breakout toward $5,000 and beyond.
The chart, shared by Galaxy ,outlines ETH’s steady climb past its previous all-time high earlier this cycle. The consolidation phase that followed has compressed price action into a tight range. Higher lows and lower highs have carved out a green triangle, suggesting equilibrium between buyers and sellers.
Measured move projections place breakout targets in the $5,000–$6,000 range, provided ETH breaches upper resistance with strong volume. However, the $4,150 support level remains critical. A breakdown here could negate the bullish outlook and trigger downside risk.
Ethereum Supply Drops to Multi-Year Lows
According to exchange reserve metrics, ETH held on trading platforms has plunged to just 16.9 million ETH, the lowest level in years. This sharp drop, marked by a red circle in Galaxy’s chart, reflects accelerated outflows in late 2025.
Such dwindling exchange balances typically signal investor confidence. ETH is increasingly moving into cold storage, DeFi protocols, and staking contracts, reducing sell-side liquidity.
As supply shrinks, upward price pressure builds. This type of supply shock has historically preceded major rallies — and with ETH now hovering around $4,600, another surge appears likely.
Institutions Join the Frenzy as Fusaka Upgrade Nears
Institutional interest continues to pour in. As reported by TedPillows, ETH ETFs saw $213.1 million in inflows just yesterday. Notably, Fidelity accounted for $159.4 million of that total — further proof of growing institutional conviction.
The timing couldn’t be better. Ethereum’s Fusaka upgrade is set to launch on December 3, following testnet rollouts throughout October.Fusaka aims to scale Ethereum without sacrificing security.
A $2 million security audit contest is underway, ensuring the upgrade’s stability. Once Fusaka goes live, the network could handle significantly higher transaction throughput — a bullish catalyst ahead of the next major update, Glamsterdam, expected in 2026.
