ETH Approaching $4360 Could Trigger A New Reset

A reset is possible if the Ethereum(ETH) approaches the local peak, which is at $4,360.

Over the past 24 hours, the value of the largest altcoin has increased by about 3%. In weekly terms, ETH has grown by more than 5%.

As MEXC data shows, ETH dropped to 3,714 USDT on October 23 , and at the beginning of this week it jumped to 4,253 USDT. After that, expected traders recorded a profit, taking advantage of the jump, and the ETH rate retreated to 4,121 USDT.

However, most investors are not interested in the drawdown of cryptocurrency much below $4,000. This is indicated by the return of support. On the night of Wednesday, October 29, the ETH rate on MEXC briefly strengthened to 4200 USDT.

According to analysts, the local peak in the current cycle is the $4,360 mark. After it is achieved, we expect a new reset, which may be painful.

• However, it is unlikely that sales will provoke a fall in the air much below $4,000. Most likely, the coin will be able to stay at this psychological level.

The largest Whale Swim Since Autumn 2022

If the ether can hold above $4,000, then next month it can achieve more significant results. The main factor that will fuel the November rally will be whale swims.

Major investors stepped up last week when the altcoin groped the bottom in the range of $3,750 to $3,800. The most aggressive buyers were mega-whales holding 10,000 to 100,000 coins.

At the end of October, the value of ETH decreased by by about 6.5%, but in the coming days the cryptocurrency can restore some of the lost positions, analysts say.

• In the region of $3750, a zone of powerful support for the ether has been formed. It should work in the event of a new reset, although the risks of sales are still small, given that ETH has not reached a local peak.
• Most experts believe that the peak is at around $4360. If the coin approaches this level, then we expect profit fixing with the subsequent retreat of ETH. But it is unlikely that the pullback will become painful. Most likely, the ether will retain positions in the region of $4000.

According to Glassnode, in October, whales went hunting, whose wallets contain from 10,000 to 100,000 ETH. Whale swim became the largest since the fall of 2022. Now this cohort of investors controls more than 28 million coins.

Sharks, whose addresses hold from 1,000 to 10,000 coins, on the contrary, in September-October mainly sold accumulated cryptocurrency. Their reserves fell to a minimum since mid-2025.

Only in the middle of this month, these wallets also returned to cumulative tactics. Sharks control less than 13 million ETH.

According to Santiment , from October 5 to 16, average investors sold approximately 1.36 million ETH.

The resumption of purchases involving shark wallets led to the stabilization of the ether rate. But the key influence on the value of altcoin is still provided by large investors.

If whale support increases in the coming days, then the ether can quickly approach $4,360.

• The chances of a rise to $5,000 will appear if the profit taking is insignificant and cannot undermine the long-term trend for the strengthening of the altcoin, the MEXC Research team notes.

Traders Estimate Medium-Term Prospects of ETH

In the market of crypto derivatives traders’ activity is weakening, indicating their preparation for the consolidation of the ether.

Open interest in ETH futures on Wednesday night, October 29, dropped to $47.46 billion (according to CoinGlass).

On the MEXC exchange on the eve of the volume of contracts decreased to $2.4 billion. The financing rate for perpetual swaps remains in the positive zone, but the daily turnover of futures decreased.

In the long term, most traders focus on the bullish scenario, but wait-and-see tactics dominate over a short distance.

A similar situation is developing in the Ethereum options market. On the next Friday, October 31, monthly contracts worth $2.56 billion expire.

Open interest in options for the air is $15.64 billion. The maximum pain threshold is indicated at $4,100. That is, at the time of the expiration of October options, this mark will not suit most market participants.

Volatility may escalate in the near future. The amplitude of cryptocurrency fluctuations increases before the expiration of contracts.

Bears will try to reduce ETH below $4,000. Put options are guided by this scenario.

Bulls, by contrast, are interested in jumping the altcoin above $4,000. Most October Call options list strikes between $4,000 and $5,000.

Hedge funds acquire Call options with expiration in March and June 2026, in which strikeouts (strike prices) range from $4,500 to $6,000 (according to Laevitas).

• Long-distance traders remain optimistic, but in the face of macroeconomic uncertainty, they prefer to distribute bets between bullish and moderate scenarios.

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