Upcoming in Crypto: Ethereum, Token Unlocks & More

• Ethereum is setting eyes on critical resistance at $3,113, eyeing potential gains this week.
• Over $1 billion in token unlocks are anticipated, spearheaded by Sui, ZetaChain, and Celestia.

Heading into the crypto week ahead, Ethereum (ETH) shines brightly, commencing the final quarter on a high note.

Moreover, significant token unlocks are projected, and both Bitcoin (BTC) and Ethereum could further solidify their market dominance as their prices continue their upward trajectory.

Ethereum: Price Outlook and Predictions

Currently, Ethereum is trading around $2,635.16, comfortably above its 50-day average of $2,527.49. Despite a recent 2.13% dip, it maintains support over this crucial level.

Ethereum is maneuvering between $2,635 and a resistance point at $3,113, with the next prominent Fibonacci resistance level at $3,759.90, a potential target if bullish momentum continues.

In the short term, breaking above the 200-day moving average at $3,113 could propel Ethereum to $3,400–$3,500.

For the medium term, successfully surpassing $3,432 might steer it toward the $4,000 mark, contingent on market sentiment in the crypto week ahead.

However, should Ethereum fail to breach the $3,113 resistance, it may fall back to the 50-day moving average at $2,527.

A decline below this level could trigger a further drop to approximately $2,400, with potential testing of support around the $2,000 mark under significant selling pressure.

Key Token Unlocks Scheduled This Week

A notable event in the crypto week ahead is the unlocking of over $1 billion worth of tokens. On October 1st, Sui (SUI) will release about $115.55 million, and ZetaChain (ZETA) will unlock approximately $38.59 million.

Then, on October 4th, Immutable X (IMX) will release $58.78 million in tokens. The month’s highlight will be Celestia (TIA) unlocking over $1 billion in tokens later in October.

Bitcoin and Ethereum’s Market Stronghold

Despite recent market fluctuations, Bitcoin and Ethereum maintain substantial market dominance. According to CoinMarketCap, Bitcoin holds a 56% market share, while Ethereum accounts for 14%.

Historically, October has been favorable for cryptocurrencies, and their strongholds are expected to persist in the crypto week ahead.

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