Ethereum is currently trading near $2,729, recording a daily gain of 1% as it tests a critical resistance area between $2,750 and $2,800. The cryptocurrency earlier opened around $2,705 and briefly touched an intraday high of $2,746.
Uptrend since June drives bullish momentum
The broader price movement for Ethereum reflects a recovery trend that started after the asset bottomed out close to $1,500 in June. Since then, ETH has set a clear pattern of higher lows, supported by an upward-sloping trendline converging around the $2,400 level.
In September, Ethereum overcame resistance in the $2,400-$2,500 zone, which had previously capped several advances. This former resistance now serves as a key support area in the event of further pullbacks.
As participants closely monitor the $2,750-$2,800 region, a firm close above $2,800 would strengthen a breakout scenario and turn the psychological $3,000 mark into the next major target. Above $3,000, traders are watching resistance at the $3,300-$3,450 range, a price corridor associated with selling pressure prior to the last significant correction.
Initial support for Ethereum sits near $2,450-$2,500, with the trendline near $2,400 offering additional protection. If prices retreat more sharply, the $1,850-$2,000 band could serve as a fallback, though the current price remains considerably above these levels.
Technical signals and analyst commentary
Momentum indicators suggest constructive but cautious optimism. The daily Relative Strength Index (RSI) stands at 65.86, indicating healthy demand without yet entering overbought territory. Meanwhile, the MACD indicator has turned slightly negative as the MACD line at 75.06 sits below the signal line at 82.02. This setup implies the uptrend persists but may be losing some pace as price action nears resistance.
Cryptocurrency analyst Michaël van de Poppe has commented that the technical structure seen in other assets is echoed in Ethereum. If resistance is cleared, reaching $3,000 becomes a question of timing rather than possibility.
Institutional inflows boost Ethereum
Institutional demand for Ethereum has picked up after a relatively subdued start to September. Spot Ethereum ETFs listed in the United States drew roughly $690 million in net inflows between September 21 and 25. BlackRock’s ETHA accounted for $326 million, Fidelity’s FETH contributed $174 million, and Grayscale’s Ethereum Mini Trust added about $100 million during this period.
While fund flows slowed in the last days of September, total net inflows have climbed to around $14 billion, reflecting a stronger institutional presence compared to earlier in 2026.
Upcoming Glamsterdam upgrade and market trends
Adding to these market dynamics, the Ethereum network is preparing for the Glamsterdam upgrade on the Sepolia testnet in early October. This update is expected to improve execution efficiency, node synchronization, and overall scalability. Industry observers see this technical milestone as an additional catalyst for increased participation and market confidence.
Market momentum has also been influenced by revised forecasts. Citi recently raised its 12-month price target for Ethereum from $2,240 to $3,028, attributing the upgrade to heightened ETF demand and sustained activity in the digital asset sector.
Given the technical focus on breakout points and shifting investor sentiment, Ethereum remains well above its key trendline, holding steady at $2,730 while buyers test the $2,750-$2,800 resistance band.
Meme token market activity highlights investor timing
Amid these broader trends, the rapid pace of sector rotations in digital assets—especially in speculative areas—has begun to matter more. In the meme token market, the timing and selection of tokens can be as important as price alone. For example, data from Fomo App reveals a notable trade in “Niu Lai,” where a $99 investment reportedly ballooned to nearly $370,000. Tools like Fomo App offer integrated token discovery, trading, social feeds, investor leaderboards, and trade alerts, allowing market watchers to track both price and investor actions at a granular level. As meme tokens surge around internet trends, timely information becomes crucial for navigating this fast-moving segment.
Spot Ethereum ETFs in the US took in about $690 million during the week of September 21-25, with BlackRock’s ETHA, Fidelity’s FETH, and Grayscale’s Mini Trust drawing the largest inflows.
