Ethereum Price Set to Rally on OKX Giveaway—Can ETH Hit New ATH?
Ethereum price remains supported above $3,550 amid strong bullish momentum. Technical indicators show a breakout past the $3,750 level could open a move toward the $3,900–$4,200 range, with the all-time high of $4,878 becoming an attainable target if momentum holds. Sustained inflows into Ethereum spot ETFs have tightened supply, reinforcing the bullish case. OKX’s latest giveaway of up to 20 million PUMP tokens may boost platform engagement and short-term trading volume, but its direct impact on Ethereum price is likely to be indirect and temporary. Key scenarios include a bullish breakout above $3,750 targeting $4,200+, an ATH test at $4,878+, a moderate pullback to $3,200–$3,600 if RSI overheats, or a bearish rejection below $3,200 on macro headwinds. Overall, Ethereum price action will hinge on continued ETF inflows, technical strength, and broader market sentiment.
Bullish
The OKX giveaway is expected to spark a short-term rise in trading volume, similar to past exchange promotions that generated temporary price spikes without sustaining long-term trends. However, the stronger driver is ongoing inflows into Ethereum spot ETFs, which have historically acted as a significant catalyst for price appreciation. In mid-2025, ETF-driven demand propelled ETH from around $3,000 to above $4,000, demonstrating institutional interest’s power. A confirmed breakout above $3,750 would likely trigger additional buying, pushing prices into the $3,900–$4,200 range and putting the ATH of $4,878 in sight. In the near term, traders should expect increased volatility around the giveaway event, but the medium- to long-term outlook remains bullish, underpinned by solid technical momentum and sustained ETF demand.