Ethereum Price Forecast: Why Ether Is Set for A Retest of $4800

Highlights:

• Ethereum is currently pushing through the $4607.0 resistance
• Sustained rally through resistance could trigger a rally to $4800
• Ongoing US government shutdown likely to help sustain momentum 

Ethereum (ETH), like the rest of the market, is making marginal gains today. In the last 24 hours, Ethereum is up by 0.47% to trade at $4574.90. However, trading volumes are in decline during the day. They are down sharply by 22.82% to stand at $32.33 billion. Such a drop in trading volumes is a positive indicator for Ethereum. 

It means that the average holder is not keen on selling their Ethereum holdings, and that they expect the price to keep doing well going into the future. There are a couple of factors that support the bullish sentiment around Ethereum despite the price not moving much in the last 24 hours. 

US Government Shutdown Driving Capital to Ethereum

One of them is the ongoing US government shutdown. Whenever the shutdown happens for a small amount of time, it is the US dollar index that rallies as investors seek out safety in cash before going back into other assets.

However, when it gets prolonged as is happening now, money starts moving into safe assets like gold and uncorrelated assets like cryptocurrencies. This explains why, despite the slow intraday price action, Ethereum’s overall momentum is up. If the issues around the shutdown persist, Ethereum could be headed to much higher prices in the short to medium term.

Day 5 of the US Government $Shutdown

2BNfdtz2Qz9cQEybXJhyY1no2gn61rQqo5FqX8Pbpump pic.twitter.com/8cP8eZxcOr

— US government Shutdown (@GovShutdownSoL) October 5, 2025

Political Events In Japan Could Add Liquidity to Ethereum

Globally, political events happening in major economies favor Ethereum growth. One of these events is the election of Sanae Takaichi as the head of the ruling party. This has triggered a market rally in the Japanese stock markets. In the cryptocurrency market, analysts believe this election could be followed by fiscal stimulus in Japan.

🚨 BREAKING: Japan is getting a new RIGHT-WING Prime Minister Sanae Takaichi who is being compared to the late, great Shinzo Abe – and President Trump is excited.

"Japan has just elected its first female Prime Minister, a highly respected person of great wisdom and strength.… pic.twitter.com/TUqM6YNpyh

— Eric Daugherty (@EricLDaugh) October 6, 2025

Such a move could trigger a surge in capital entering the cryptocurrency market. In the context of Ethereum, which already has a lot of favor with institutions, a new capital injection could favor it more compared to other altcoins. This could send it to new highs in the short term, with $4800, as a critical price level to watch in the short term.

Upcoming Fusaka Upgrade Likely to Push Ethereum Higher

Besides the political issues that are making Ethereum an attractive asset to hold, internal dynamics are also driving demand. One of them is the upcoming Fusaka upgrade. The testnets are happening this month, and the main upgrade is scheduled for December 3. These upgrades are a big deal for Ethereum in the sense that they are likely to significantly keep investor interest high for the remainder of the year. That’s because, aside from the FOMO that comes with such upgrades, the Fusaka upgrade promises some significant improvements for Ethereum. 

One of the key highlights of the Ethereum upgrade is a technology dubbed Peer Data Availability Sampling. Once this technology is implemented, it will be possible for block validators to do block verification based on sampled data subsets. This will enhance the efficiency of the Ethereum network by cutting on bandwidth requirements and excessive storage costs.

By extension, this is expected to make Ethereum transactions cheaper and much faster. It is a factor that could further entrench Ethereum in the smart contracts space, especially now that the integration of traditional finance and DeFi is happening.

⚡️Ethereum 1,085 TPS vs solana 600 tps 🐌

Ethereum L2 are FASTER, CHEAPER, and more SECURE!

And with the upcoming Fusaka upgrade, we will see $ETH L2's get a HUGE jump in throughput! 🔥 pic.twitter.com/uex9pSlMBx

— Ethprofit.eth 🦇🔊 (@Ethprofit) October 5, 2025

Technical Analysis – Ethereum Price Trading at Critical Resistance Level

Ethereum is currently trading at the $4607.0 resistance level. If bulls take control and push the price through the $4607.0 resistance, then a rally to $4800 could follow. However, if bulls are unable to push the price through $4607.0 resistance, then two scenarios could follow.

The first is a continuation of the consolidation between the $4607.0 resistance and $4486.2 support. The second is a possible correction through the $4486.2 support. Of these scenarios, the odds are higher for a strong rally through the $4607.0 resistance, followed by new highs.