Ethereum is trading near $2,729 as of October 2, with buyers pushing toward the crucial resistance area between $2,750 and $2,800. The token opened the day at approximately $2,705, reaching an intraday peak of $2,746. This marks a 1% increase during the daily trading session, extending a recovery that began in June when prices were around $1,500.
Since that low, Ethereum has consistently formed higher lows, indicating a solid upward trend. A rising trend line from the June low suggests significant support around the $2,400 mark, helping ETH maintain its current trajectory.
Ethereum Bulls Target $2,800
The technical focus for Ethereum now sits squarely on the $2,750-$2,800 range. Following a period of consolidation throughout September, where prices fluctuated between $2,450 and $2,600, ETH is poised for another upward movement. A daily close above $2,800 would confirm a breakout, bringing the $3,000 target back into play. Beyond that level, chart resistance thickens around $3,300-$3,450, a region tied to previous price action before Ethereum’s decline earlier this year.
On the downside, initial support is found between $2,450-$2,500, with the rising trend line offering additional backing near $2,400. A significant drop below this could re-focus attention on the $1,850-$2,000 range, although ETH currently trades comfortably above that threshold.
Momentum indicators reflect a positive outlook, though they have cooled slightly. The daily RSI stands at 65.86, indicating a robust trend but still shy of the overbought territory. Meanwhile, the MACD presents a mixed picture; the MACD line sits at 75.06, below the signal line at 82.02, while the histogram remains slightly negative at about -6.96. This suggests that while the rally is intact, it may be losing momentum near resistance.
Trader Michaël van de Poppe echoes this sentiment, noting that a breakthrough at current resistance levels could make a rise to $3,000 merely a matter of time.
Ethereum ETF Flows Remain Robust
Institutional interest in Ethereum has surged recently, with U.S. spot Ether ETFs attracting approximately $690 million during the week of September 21-25, marking the strongest weekly total since late August. BlackRock’s ETHA led the charge with inflows of around $326 million, followed by Fidelity’s FETH with about $174 million, and Grayscale’s Ethereum Mini Trust contributing nearly $100 million.
While flows cooled slightly toward the end of September, cumulative inflows are nearing $14 billion, showcasing a much stronger pace compared to earlier in 2026. Anticipation is also building for the upcoming Glamsterdam upgrade, set for deployment on the Sepolia testnet in early October. This upgrade is expected to enhance execution efficiency, node syncing, and overall network scalability.
Citi recently upgraded its 12-month Ether price target from $2,240 to $3,028, citing increased crypto activity and renewed ETF demand as driving factors behind this optimistic assessment.
As Ethereum continues to trade above its rising daily trend line and hovers close to $2,730, the technical landscape remains favorable for bullish traders, with eyes set firmly on the resistance levels ahead.
