Ethereum Price Prediction: Where Could ETH Be by the End of October?

Ethereum (CRYPTO: ETH) needs a significant 13.7% boost in just one week to return to its October opening price of $2,684. This increase would help erase this month’s losses. ETH traded at $2,361, down 12% for the month, after hitting a high of $2,777 on October 2 and a low of $2,313 on October 15.

Currently, ETH is priced 52.3% below its all-time high. With October ending on the 31st, predictions about Ethereum’s month-end price hinge on how much it can realistically move, and in which direction.

ETH Needs a 13.7% Gain to Get Back to Its October Open

With approximately 122.2 million ETH in circulation, Ethereum’s market capitalization stood at roughly $288.5 billion on October 24. If ETH hits $2,684, its market value would rise to about $327.9 billion.

Unlike many cryptocurrencies, Ethereum has no hard supply cap because validators are granted new ETH to secure the network. This means the same price level can represent different market values in different market cycles. For example, ETH reached its all-time high of $4,946 on August 24, 2025, which would place its market value at around $604.2 billion based on current supply levels.

Spot Ether ETFs Have Pulled Money Out Most of October

Spot Ether ETFs are designed to track the actual value of ETH, offering insights into traditional investors’ behaviors. U.S. spot Ether ETFs experienced net withdrawals of $110.5 million on October 22, according to SoSoValue. The funds only saw net inflows on two days in October—October 13 and October 21.

The largest outflow occurred on October 6, when investors withdrew $201.9 million, followed by a notable 9.1% price drop from October 5 to October 8. This ETF selling trend likely contributed to downward pressure on ETH, particularly in the first days of the month.

Cumulative net inflows fell from $13.96 billion on September 28 to $12.71 billion on October 22—a drop of about $ 1.25 billion in less than a month.

Glamsterdam’s Delay and Bitmine’s Buying Pull ETH in Opposite Directions

Glamsterdam is slated to be Ethereum’s next important upgrade. However, in an October 22 announcement titled “Glamsterdam on Hoodi Postponed,” the Ethereum Foundation indicated that the upgrade on the Hoodi test network would not take place on its planned date of October 26.

Developers want extra time to review EIP-8037—a proposal that changes how gas fees, which users pay to execute transactions, interact with existing smart contracts. This delay also postponed a planned increase in gas limits, and no new date for the upgrade has been set yet. Historically, past upgrades have not significantly boosted ETH prices anyway.

On a more positive note, Bitmine Immersion Technologies (NYSEAMERICAN: BMNR | BMNR Price Prediction)—a public company that invests in and holds ETH—reported it holds 6.04 million ETH as of October 19, valued at about $14.3 billion based on the current price. This represents nearly 5% of the total supply. While Bitmine’s buying activity establishes a stable holder for ETH, it hasn’t prevented the token from declining 12% throughout October.

ETH Trades Between $2,313 Support and $2,491 Resistance

When analyzing price trends, support represents levels where buyers typically step in, while resistance marks levels where sellers tend to take control. For ETH, the first support level lies at $2,349, coinciding with the low recorded during the week of October 19. The 30-day low of $2,313 is the next support level, about 2% below the current price.

Resistance levels consist of higher prices where the asset has struggled to maintain upward momentum. The 20-day moving average sits at around $2,491, approximately 5.5% higher, marking the first resistance point. Since October 12, ETH has closed above this mark only once, on October 13, with the weekly high at $2,524 and the 50-day average at $2,548, closely behind.

What Is Our Ethereum Price Prediction for October 31?

We expect ETH to close October somewhere between $2,313 and $2,548. A return to the $2,684 opening price seems unlikely because of ongoing ETF sell-offs and the lack of a new launch date for the Glamsterdam upgrade. For ETH holders, October appears set to end in the red, with prices expected to close significantly below the initial $2,684.

For ETH to reach the higher end of our predictions, ETF flows must shift from withdrawals to consistent deposits. Additionally, ETH will need to overcome the $2,491 and $2,548 resistance levels to even approach its October opening price. However, if the withdrawal trend near the $110.5 million rate observed on October 22 persists, ETH may fall below $2,349, test the $2,313 support level again, and a daily close below this mark before October 31 could set fresh monthly lows.

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