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#加密市场反弹 Recently, the Ethereum trend has been quite volatile, briefly dropping below $4000 on September 25 for the first time since August 8. On September 26, Ethereum continued to decline, falling below the $3900 mark, hitting a new low in nearly seven weeks.

From a technical indicator perspective, the RSI is at 59, indicating neutral momentum, while the stochastic oscillator is around 85, and the CCI is at 115, highlighting overbought conditions, suggesting that a correction may occur in the short term. The MACD's sell signal and the 21.5 ADX further emphasize the consolidation phase.

From the institutional perspective, on-chain data shows that institutional investor accumulation surged in September, but recent institutional capital inflow has cooled down. This week, nearly $300 million of the U.S. Ethereum ETF was withdrawn, with only $110 million flowing in since September, a significant difference compared to August's $3.8 billion.

However, there are also some positive factors, such as South Korean internet giant Naver planning to acquire Dunamu, the parent company of South Korea's largest cryptocurrency exchange Upbit, which could have a certain positive impact on the cryptocurrency market. Additionally, if Ethereum can maintain above $4500, driven by the Fusaka upgrade in December 2025, ETH could rebound to $5500 by mid-October.