Ethereum above $2,690 — is this breakout real? 🤔
Ethereum is trading at $2,693, up 2.39% on the week, supported by a breakout of the resistance level at $2,661.
💡 What supports the rise:
• Strong institutional flows: spot ETF funds recorded net inflows of $2.25 billion during the period from September 14 to 24
• Spot ETH funds alone recorded $104.5 million in a single day
• ETH’s market cap stands at $328.35 billion
📉 Warning: analyst DANNY considers this rally a “trap” and expects a drop toward $1,500 before any real breakout. Meanwhile, another expert expects ETH to reach the $3,000–$4,000 range.
⚡ Conclusion: monitor the $2,661 level as key support. A breakdown below this level could open the door for further correction.
Ethereum is trading at $2,693, up 2.39% on the week, supported by a breakout of the resistance level at $2,661.
💡 What supports the rise:
• Strong institutional flows: spot ETF funds recorded net inflows of $2.25 billion during the period from September 14 to 24
• Spot ETH funds alone recorded $104.5 million in a single day
• ETH’s market cap stands at $328.35 billion
📉 Warning: analyst DANNY considers this rally a “trap” and expects a drop toward $1,500 before any real breakout. Meanwhile, another expert expects ETH to reach the $3,000–$4,000 range.
⚡ Conclusion: monitor the $2,661 level as key support. A breakdown below this level could open the door for further correction.