As of September 13, 2025, Ethereum (ETH) is performing relatively strong.

On September 13, the price of ETH rose above the $4700 mark, with a 24-hour increase of 3.75%, reaching a new high since August 25. According to data from Coinbase, the 24-hour trading volume of ETH was $40.44 billion, with a market capitalization of $471.43 billion and a circulating supply of 121 million coins, accounting for 12.56% of the total cryptocurrency market capitalization.

From a technical perspective, ETH is steadily rising on the 4-hour chart, with the 20, 50, and 100-period EMAs forming support around $4372 to $4399. The RSI indicator is at 67, close to the overbought area, but there is still room for further upward movement. The Super Trend indicator has turned bullish near $4337, while the Parabolic SAR has moved below the price action, confirming the short-term upward trend.

On-chain data also shows certain positive signals, with a net inflow of $61.4 million on September 12, marking one of the strongest accumulation signals in recent weeks. Furthermore, SharpLink Gaming invested $3.7 billion into the Ethereum treasury, with 837,000 ETH allocated as long-term reserve assets. This action is seen as an institutional adoption "black swan event," which helps stabilize market supply dynamics.

However, ETH also faces some challenges. If it cannot break through the resistance level of $4584 to $4672, it may trigger another pullback to the support level of $4387. Overall, the market trend leans towards a cautiously bullish outlook, and the short-term movement of ETH depends on whether institutional accumulation and on-chain capital inflow can break through key technical resistance levels.