**💎 $ETH Update: Coiling Below $2,800 💎**
Ethereum is trading around **$2,700**, up about 1% on the day. It's holding the breakout from September and pressing against a resistance zone it has been rejected from for two weeks.
**📊 Technicals**
✅ Price is above the 20-day EMA (about $2,611) and well above the 50-day EMA and 200-day moving average
✅ ETF inflows have kept institutional demand steady
✅ Short positions are stacking up, so a breakout could trigger a squeeze
⚠️ ETH has not managed a convincing daily close above $2,800 yet
**🎯 Key Levels**
🔴 Resistance: $2,750 → $2,800 → $3,000
🟢 Support: $2,617 → $2,530 → $2,445
**🔮 Scenarios**
🚀 **Bullish:** A daily close above $2,800 on volume opens the road to $3,000.
⚖️ **Base case:** Choppy range between $2,600 and $2,750.
🐻 **Bearish:** A loss of $2,600 would weaken the structure and put $2,450–$2,530 in play.
**🔥 Catalyst:** The Glamsterdam upgrade testnet is expected around Oct 6. Historically ETH has also leaned positive in October.
**💭 My take:** The structure is bullish, but $2,800 is the line that matters. Let it break and hold before getting aggressive.$ETH
Will ETH reclaim $3,000 this month? 👇
#ETH #Ethereum #ETHUSDT #Glamsterdam #BinanceSquare
Ethereum is trading around **$2,700**, up about 1% on the day. It's holding the breakout from September and pressing against a resistance zone it has been rejected from for two weeks.
**📊 Technicals**
✅ Price is above the 20-day EMA (about $2,611) and well above the 50-day EMA and 200-day moving average
✅ ETF inflows have kept institutional demand steady
✅ Short positions are stacking up, so a breakout could trigger a squeeze
⚠️ ETH has not managed a convincing daily close above $2,800 yet
**🎯 Key Levels**
🔴 Resistance: $2,750 → $2,800 → $3,000
🟢 Support: $2,617 → $2,530 → $2,445
**🔮 Scenarios**
🚀 **Bullish:** A daily close above $2,800 on volume opens the road to $3,000.
⚖️ **Base case:** Choppy range between $2,600 and $2,750.
🐻 **Bearish:** A loss of $2,600 would weaken the structure and put $2,450–$2,530 in play.
**🔥 Catalyst:** The Glamsterdam upgrade testnet is expected around Oct 6. Historically ETH has also leaned positive in October.
**💭 My take:** The structure is bullish, but $2,800 is the line that matters. Let it break and hold before getting aggressive.$ETH
Will ETH reclaim $3,000 this month? 👇
#ETH #Ethereum #ETHUSDT #Glamsterdam #BinanceSquare
