The current correction in Ethereum may turn out to be a significant ‘bear trap,’ culminating in a sharp rise in October or November, according to trader Johnny Woo.
Here’s one possible scenario for #Ethereum $ETH #ETH:
It might look bearish at first, but if it plays out, it could be the biggest bear trap I’ve ever seen. In September, they could paint a head-and-shoulders pattern to spook everyone, then invalidate it in “Uptober,” trapping… pic.twitter.com/8aZrEJXAOx— Johnny Woo | Never DM you for Money (@j0hnnyw00) September 1, 2025
According to him, a head-and-shoulders pattern may form on the chart of the second-largest cryptocurrency by market capitalization in September, which could alarm the market. However, this decline would be followed by the pattern’s invalidation and a new all-time high.
A similar scenario occurred in September 2021, Woo noted. At that time, Ethereum’s price fell by 30%—from $3950 to $2750. By November, the asset had set a new price record.
A Breakthrough of $5000 Needed
A trader known as Daan Crypto Trades supported this view. He added that recently, ETH has been in a consolidation phase within the $4300-4500 range, creating instability for investors.
$ETH Has just been chopping everyone up as it has been consolidating in the middle of the range around this $4.3K-$4.5K area.
Still not a place for me to take any trade with the lack of momentum and especially at the start of a new week & month.
I think a retest of the range… https://t.co/VwW05H1hW3 pic.twitter.com/wRC5zSYuCs
— Daan Crypto Trades (@DaanCrypto) September 1, 2025
He emphasized that a retest of the lower boundary and the 200 EMA on the four-hour timeframe will be a key point for a potential reversal.
“Alternatively, consolidation above $5000 will be a bullish signal and should lead to growth into the all-time high zone,” the expert added.
A technical analyst known as EtherNasyonaL noted that Ethereum is “on the verge of a parabolic run.” A similar pattern was observed in 2017.
Ethereum is literally on the verge of a parabolic run.$ETH https://t.co/JgxwjuzNN4 pic.twitter.com/FXeUoxdusW
— EᴛʜᴇʀNᴀꜱʏᴏɴᴀL 💹🧲📈 (@EtherNasyonaL) September 1, 2025
Michaël van de Poppe added that the current level of the altcoin “creates a perfect opportunity” to enter the market. The expert predicted a sharp rise in the fourth quarter.
At the time of writing, Ethereum is trading around $4400. Over the past 24 hours, its price has fallen by 2.2%.
Earlier in September, ConsenSys founder Joseph Lubin predicted a 100-fold increase in the price of the second-largest cryptocurrency by market capitalization.