Ethereum (ETH) had a strong start to October 2023 but has since faced significant selling pressure, dropping below $1,600. At present, ETH is trading at $1,558 with a market cap of $187 billion. While the TD Sequential indicator has generated a buy signal near the lower boundary of its consistent range, caution is advised as a close below $1,530 could invalidate the bullish outlook.

Standard Chartered Bank predicts that the ETH price could reach $8,000 within the next two years or by early 2026, but JPMorgan Chase analysts have raised concerns about diminishing network activity on the platform. Renowned analyst Benjamin Cowen predicts that Ethereum may experience a decrease in value by the end of the year. However, the top 10 largest ETH wallets have recently added 40 million ETH.