ETHEREUM $2,800 REJECTION OR JUST A PAUSE?
Ethereum is holding around $2,739 after reaching a new 1H high of $2,807.34. After that strong rally, ETH is now consolidating around the short-term moving averages instead of giving back the entire move.
On the 1H chart:
MA(7): $2,738.85
MA(25): $2,747.82
MA(99): $2,651.67
The MA7 and MA25 are now almost sitting directly around price, showing that short-term momentum has cooled. But the MA99 remains much lower, keeping the broader 1H structure bullish.
đŠ INSTITUTIONAL PICTURE
The institutional story is mixed but still interesting. U.S. spot ETH ETFs recorded $143.7M of net inflows on September 18, but the latest five-trading-day period was still about $140.9M negative overall.
Meanwhile, BitMine reported 5,983,940 ETH held as of September 20 around 4.9% of total ETH supply showing that at least one major ETH treasury continues accumulating.
So the chart is cooling while institutional flows remain mixed.
The key battle now is $2,750â$2,807.
A clean reclaim and hold above $2,750 could put the recent high back in focus. But if ETH loses the $2,700 area, a deeper pullback toward the rising MA99 becomes more relevant.
For now, ETH is in a decision zone momentum hasn't broken, but buyers need to prove they can take back the highs.
#ETH #Ethereum #ETHUSDT #CryptoTrading $ETH
Ethereum is holding around $2,739 after reaching a new 1H high of $2,807.34. After that strong rally, ETH is now consolidating around the short-term moving averages instead of giving back the entire move.
On the 1H chart:
MA(7): $2,738.85
MA(25): $2,747.82
MA(99): $2,651.67
The MA7 and MA25 are now almost sitting directly around price, showing that short-term momentum has cooled. But the MA99 remains much lower, keeping the broader 1H structure bullish.
đŠ INSTITUTIONAL PICTURE
The institutional story is mixed but still interesting. U.S. spot ETH ETFs recorded $143.7M of net inflows on September 18, but the latest five-trading-day period was still about $140.9M negative overall.
Meanwhile, BitMine reported 5,983,940 ETH held as of September 20 around 4.9% of total ETH supply showing that at least one major ETH treasury continues accumulating.
So the chart is cooling while institutional flows remain mixed.
The key battle now is $2,750â$2,807.
A clean reclaim and hold above $2,750 could put the recent high back in focus. But if ETH loses the $2,700 area, a deeper pullback toward the rising MA99 becomes more relevant.
For now, ETH is in a decision zone momentum hasn't broken, but buyers need to prove they can take back the highs.
#ETH #Ethereum #ETHUSDT #CryptoTrading $ETH