Ethereum Price Volatility Ahead: What Could Push ETH Higher Before Q4?

Ethereum (CRYPTO:ETH) has seen significant price swings this year, ranging from a yearly high near $3,100 to a February low of $1,755 before recovering into the $2,400 range.

With 15 days left before the fourth quarter begins on October 1, traders face a Federal Reserve rate hike, wavering ETF flows, and a major network upgrade. These factors could impact Ethereum's price performance in the coming weeks.

A successful test of Ethereum's Glamsterdam upgrade, scheduled for September 6, would keep the upgrade's planned timeline on track and give investors more confidence in Ethereum's development plans heading into Q4. However, a problem during testing could raise fresh concerns about another delay and put pressure on ETH.

The token is currently trading at $2,405, down 1.4% from Tuesday's open as traders position for the Fed's rate decision today. The token is down roughly 23% since January 1 and more than 50% below its all-time high of $4,955 set in August 2025.