TLDR
- ETH trades near $2,673 after pulling back from above $2,800.
- Analysts are watching the $2,530–$2,600 zone, a former resistance level now being tested as support.
- RektProof sees a possible move to $3,000 before a drop toward $2,300.
- Celal Kucuker warns that leveraged long positions could trigger a 20% liquidation-driven drop.
- US spot Ethereum ETFs took in $104.5 million on September 23, led by BlackRock’s ETHA.
Ethereum is trading near $2,673 as buyers try to hold a recent breakout. The price climbed toward $2,800 before sellers stepped in and pushed it lower.
Data from CoinMarketCap shows ETH at $2,673.39, up 0.40% over 24 hours. Trading volume sits near $23.17 billion, and market cap is $328.12 billion.
A Brave New Coin snapshot from September 24 put ETH near $2,675, down about 3.80% on the day.
Former Resistance Now Tested as Support
The $2,530 to $2,600 area is now the main level traders are watching. Ethereum spent several sessions stuck below this zone before breaking higher.
Crypto analyst BATMAN said on September 24 that the $2,560–$2,600 range used to act as resistance. He noted that it has now been tested as support several times.
Analyst Wealthmanager shared a daily chart pointing to about $2,539 as a possible retest level. If buyers defend it, he sees a larger target near $3,391. That target depends on ETH first reclaiming $2,800 and moving above $3,000.
The 200 EMA sits near $2,460. A drop below $2,560 would put that level in focus.
On the Bollinger Bands, ETH trades above the middle band at $2,547.65. The upper band is at $2,767.17.
The MACD line is at 96.50, above the signal line at 86.47. The gap between the two is small, which suggests momentum may slow.
Analysts Split on the Next Move
RektProof posted a chart showing ETH could rise toward $3,000 first. The analyst then expects a pullback to equal lows around $2,300, where liquidity sits. Resistance is marked between $3,000 and $3,200.
IncomeSharks sees a different path. The analyst’s chart allows for a quick drop to $2,100–$2,200 that could turn out to be a fakeout. A fast recovery from there could lead to a move toward $3,400–$3,500.
Celal Kucuker warned on X that leveraged long positions have been building since the rally. He said ETH could fall about 20% if those longs start to unwind.
That scenario is not confirmed. If buyers hold support, the risk of a large liquidation event could ease.
Institutional demand has stayed positive. US spot Ethereum ETFs recorded net inflows of about $104.5 million on September 23.
BlackRock’s iShares Ethereum Trust (ETHA) led with $50.8 million, nearly half the daily total. Fidelity’s FETH followed with about $41.3 million.
