Ethereum liquidity skyrockets to $163.5 billion! Can ETH break through $4,500 and usher in a major rebound?

Ethereum (ETH) stablecoin liquidity reached a historic high of $163.5 billion in September 2025, generating $99.1 million in net revenue over the past 180 days, indicating strong demand for block space. The ETH price is currently consolidating around $4,360, with the market following whether it can break through the key resistance level of $4,500 to initiate a new round of pump.

Liquidity hits record, DeFi activity continues to heat up

According to on-chain data, the supply of ETH stablecoins has increased from $152 billion in August to $163.5 billion, marking one of the strongest inflows of capital this year. Analyst Cipher X pointed out: "More liquidity means higher trading activity, deeper DeFi markets, and stronger price support."

Currently, Ethereum remains the largest DeFi platform in the world, with a total locked value (TVL) of 90.9 billion USD. Although it has slightly retreated in the past 24 hours, it is still close to its annual high.

On-chain data shows strong user demand

(Source: Trading View)

The Ethereum network saw a daily increase of 64,794 addresses, with 540,717 active addresses and a daily trading volume reaching 1.66 million transactions, covering various application scenarios such as lending, staking, and trading.

It is worth noting that Ethereum generated $1.4 million in transaction fees yesterday, the highest among all blockchains, reflecting the continuous growth in network usage and demand.

Technical Analysis: $4,500 is the Key Breakthrough Point

ETH has been trading sideways around $4,360 for nearly two weeks, with a resistance level at $4,500. If it breaks through, the next target could be $4,883. Support levels below are in the $4,200–$4,100 range, as well as deeper at $4,060 and $3,880.

Analyst Ted believes: "Ethereum will either rebound to $4,500 or face a deeper correction. Before the direction is clear, one should avoid overtrading."

Long-term accumulation signal release

(Source: Merlijn The Trader)

Technical charts show that Ethereum has experienced a new monthly MACD golden cross, which some traders view as a potential starting point for a long-term upswing. Trader Merlijn The Trader refers to it as the "Monster Ignition" and points out that ETH is currently in a "stable" zone, which historically often aligns with the accumulation phase of long-term investors.

If the price enters the upper "Hold" and "Take Profit" region, it may indicate that retail sentiment is high and the stage of profit-taking is about to arrive.

Conclusion

Ethereum currently has record liquidity, active on-chain data, and long-term technical bullish signals, and the market is in a critical observation period. If ETH successfully breaks through the resistance level of $4,500, it may trigger a new round of significant pump; conversely, if it falls below the support of $4,100, it may test lower ranges. Investors should closely follow the flow of funds and changes in technical aspects to grasp the next market trend.