Ethereum Price Prediction: Will ETF Demand Help ETH Clear USD 2,800?

KUALA LUMPUR, 5 OCTOBER 2026 —

Ethereum traded at USD 2,702.06 on October 4, 2026, marking a 0.74 percent increase over the preceding 24 hours, while Bitcoin simultaneously gained 0.75 percent.

The daily price action for Ethereum closely mirrored the performance of Bitcoin, suggesting a broader market advance rather than an asset-specific rally. Analysts noted that while the similar gains indicated general bullish sentiment, the price movements alone could not confirm the specific drivers behind the buying pressure, as no clear Ethereum-specific catalyst emerged from the available market data.

This correlation highlights the continued dominance of Bitcoin in setting the tone for the wider cryptocurrency sector, with Ethereum often moving in tandem during periods of general market liquidity.

Ethereum entered the month of October following a strong second quarter, having gained approximately 32.6 percent in August and 8.8 percent in September. During September, the token climbed from roughly USD 2,398 in the middle of the month to a high of USD 2,775 before retreating toward the USD 2,700 mark.

This recent trajectory has positioned the asset at a pivotal juncture, where the ability to break through the USD 2,800 barrier will determine the next phase of its price discovery.

Analyst Ted Pillows stated that Ethereum needs to recover USD 2,800 on a weekly closing basis to strengthen bullish momentum. His outlook emphasizes the importance of reclaiming resistance rather than merely trading above it during a single session, a distinction that traders often overlook. The October technical outlook identifies support levels around USD 2,560 to USD 2,565.

A sustained break above USD 2,800 would put USD 3,000 among the next potential targets, while losing support would bring the earlier USD 2,400 to USD 2,500 trading range into focus.

Monthly technical indicators remain mixed, presenting a complex picture for long-term investors. The TradingView chart shows the relative strength index at 51.53, which is above its average of 48.46, suggesting moderate bullish momentum. However, the MACD line remains below its signal line, leaving the monthly chart without a bullish crossover. This divergence indicates that while short-term sentiment is improving, the longer-term trend has not yet fully confirmed a shift to the upside.

In terms of institutional adoption, U.S. spot Ethereum funds have outpaced Bitcoin ETFs in terms of net inflows during 2026. According to SoSoValue figures cited in the ETF report, Ethereum funds attracted approximately USD 1.5 billion in net inflows during the year, compared with approximately USD 985 million for Bitcoin ETFs over the same period.

Despite this inflow advantage, Bitcoin funds nevertheless held approximately USD 109 billion in total assets, compared with USD 18 billion for Ethereum funds. Annual net inflows measure new money entering funds after withdrawals, while total assets also reflect existing holdings and changes in cryptocurrency prices, explaining the disparity between flow and total value.

Recent Ethereum ETF activity has shown signs of volatility, with withdrawals recorded in the most recent days. Farside Investors recorded approximately USD 118 million in net outflows during the period from September 28 to October 2, following approximately USD 689.8 million in inflows during the previous week. The funds lost USD 59.6 million on September 30, USD 55.4 million on October 1, and USD 17.3 million on October 2.

Earlier weekly activity partly offset the combined withdrawals from those three sessions, indicating that while short-term selling pressure exists, it has not yet reversed the broader trend of institutional accumulation.

Separately, corporate treasury activity continues to support the asset. Bitmine Immersion Technologies reported holdings of 6,001,302 ETH as of September 27, representing approximately 4.9 percent of Ethereum’s total supply. The company acquired 17,362 ETH during the preceding week, continuing its strategy of corporate treasury purchases.

This significant accumulation by a single entity underscores the growing role of corporate balance sheets in providing a floor for Ethereum’s price, as large holders reduce the circulating supply available for retail and institutional trading.

The Ethereum Foundation has scheduled the activation of the Glamsterdam upgrade on the Sepolia testnet for October 6 at 13:53:36 UTC. Developers will test changes to block production, transaction processing, and network fees before a later mainnet deployment. The upgrade combines changes to Ethereum’s execution and consensus systems, with planned features giving validators more time to check blocks and allowing network software to perform parts of transaction validation simultaneously.

The Foundation stated, “Hoodi and mainnet activation dates have not yet been decided.” Sepolia node operators must update both execution and consensus software before activation, and developers are advised to test applications after the upgrade for changes affecting fees and software interfaces.