Under optimistic market forecasts, the price of Ether is approaching $4,000.

Driven by optimistic market sentiment and strategic trading strategies, Ether (ETH) approached the $4,000 mark on Friday, demonstrating strong resilience. The ETH/USD trading pair briefly hit a high of $4,025 during the session, and the current trading price is reported at $3,940. This price movement has sparked optimism among traders, who expect further fluctuation in the market and potential rise. Trader Daab Crypto Trades emphasized the importance of breaking through the long-term cycle high of $4.1K. He pointed out that surpassing this threshold could transform recent price declines into significant deviations and might ultimately lead to a breakout. Meanwhile, market participants are closely monitoring the upcoming September consumer price index (CPI) report, with an expected inflation rate of 3.1%. Nevertheless, the possibility of Fed interest rate cuts remains high, with the Fedwatch tool from the Chicago Mercantile Exchange (CME) indicating a rate cut probability of over 94%. An anonymous trader with a perfect win rate has also drawn attention, significantly increasing his Ether long positions to 33,270 ETH, worth about $131.24 million. This trader has also built a long position of over 80 BTC, valued at $8.9 million, with an entry price of $110,900 per Bitcoin. This trader's recent trading activities have yielded profits exceeding $16 million, indicating his strong belief in the potential for further price increases in Ether. Market analysts have observed that some super whales are accumulating, holding between 10,000 to 100,000 ETH, which could enhance the likelihood of Ether breaking through the $4,000 mark. Bullish sentiment is rising, and with $4,000 becoming a key point, there are predictions that Ether's price will pump. Master of Crypto noted that the supply of Ether on exchanges is decreasing, suggesting that supply tightening could trigger a significant price increase. Another analyst, Crypto Zee, agreed, stating that Ether's price is forming a “textbook continuation” pattern, expecting Ethereum to steadily break through the resistance level of $4,250 and aim for the demand zone at $4,750. Another market observer, Jelle, also holds an optimistic view on Ethereum, believing its target price is $10,000, provided it maintains previous highs. According to Cointelegraph, Ethereum's MVRV data and bull flag breakout are signaling new upward momentum, potentially pushing ETH towards $4,500 by the end of October. Please note that this article does not provide investment advice.