Ethereum News Today: Ethereum's $3,750 Support Test: Bear Trap or Consolidation?

According to TechFinancials, Ethereum's price has stabilized near $3,758 after a volatile two-week stretch, with traders and analysts closely watching the $3,750 level as a critical support threshold. The cryptocurrency's recent fluctuations, including a sharp dip below $3,500 on October 11, have raised questions about whether the move reflects a bear trap or a foundational consolidation phase. While futures premiums remain modest at around 5% and ETF inflows have yet to generate significant momentum, large wallets continue to accumulate dips, signaling potential long-term bullish sentiment.

The broader Ethereum network has seen a slight decline in on-chain activity, including network fees and base-layer transactions, suggesting tempered demand. For the price to break out of its current range, analysts emphasize the need for a retest of the $4,000 level, followed by a push toward $4,200 and $4,500. A daily close above the 50-day moving average of $4,200 would validate stronger momentum. Conversely, a drop below $3,750 could trigger defensive support at $3,700 or $3,500, though some observers argue this would remain a routine pullback within a multi-year upward trend.

Uniswap (UNI), a key DeFi protocol built on Ethereum, has drawn renewed trader interest amid stabilizing decentralized finance (DeFi) volumes. Currently trading at $5.70, UNI faces resistance at $6.84 but maintains long-term optimism. Analysts project a high of $14.74 by 2025, with potential averages rising to $34.39–$39.30 in 2028 and a peak of $63.87 by 2031. Despite short-term bearish indicators—such as an RSI near 45 and broad Bollinger bands—the protocol's liquidity and user base are seen as catalysts for sustained growth.

Meanwhile, traders are shifting portions of their Ethereum exposure to PayFi (payments and finance) projects like Remittix (RTX), which focuses on bridging crypto with traditional banking infrastructure. Remittix has raised $27.7 million and sold 681 million tokens, earning CertiK verification and a top pre-launch ranking. Its live wallet beta enables cross-border payments in over 30 countries with real-time foreign exchange conversion, while a 15% referral program in USDT incentivizes user growth. The project's KYC-compliant team and expanding merchant tools position it as a practical application of blockchain technology.

The Ethereum ecosystem's interplay between price action, DeFi resilience, and real-world utility highlights the market's evolving dynamics. While short-term volatility persists, the focus remains on whether Ethereum can reassert dominance above key thresholds or if alternative projects like Remittix will redefine investor priorities in the near term. The article also emphasizes the balance between on-chain fundamentals and investor sentiment in shaping that outcome.