🔥 ETHEREUM THE NEXT MOVE IS BEING BUILT HERE
Ethereum is trading around $2,689, consolidating after the sharp rejection from $2,789 and the earlier drop toward $2,600.
On the 1H chart, ETH is sitting almost directly on the short-term moving averages: MA(7) $2,687.75 and MA(25) $2,691.30. The bigger test is the MA(99) at $2,702.
That makes the $2,700 area the key battle right now.
🏦 INSTITUTIONAL PICTURE
The ETF backdrop remains interesting. U.S. spot ETH ETFs recorded approximately $162.2M in net inflows on Sep 22, $104.5M on Sep 23 and $66.1M on Sep 24.
BitMine also remains a major ETH accumulator, holding around 5.98M ETH, roughly 4.9% of Ethereum's supply, after adding another 27,562 ETH in the week reported on Sep 21.
So the picture is interesting: price is consolidating, while institutional positioning remains active.
Technically, a clean reclaim and hold above $2,702–$2,715 would improve the short-term structure and put $2,750 back in focus, followed by the $2,789 high.
But if ETH keeps failing below $2,700 and loses $2,668, the consolidation could extend toward the $2,632–$2,600 support zone.
ETH is coiling. The next clean break may decide the next major move.
#ETH #Ethereum #ETHUSDT #Trading #CryptoTrading $ETH
Ethereum is trading around $2,689, consolidating after the sharp rejection from $2,789 and the earlier drop toward $2,600.
On the 1H chart, ETH is sitting almost directly on the short-term moving averages: MA(7) $2,687.75 and MA(25) $2,691.30. The bigger test is the MA(99) at $2,702.
That makes the $2,700 area the key battle right now.
🏦 INSTITUTIONAL PICTURE
The ETF backdrop remains interesting. U.S. spot ETH ETFs recorded approximately $162.2M in net inflows on Sep 22, $104.5M on Sep 23 and $66.1M on Sep 24.
BitMine also remains a major ETH accumulator, holding around 5.98M ETH, roughly 4.9% of Ethereum's supply, after adding another 27,562 ETH in the week reported on Sep 21.
So the picture is interesting: price is consolidating, while institutional positioning remains active.
Technically, a clean reclaim and hold above $2,702–$2,715 would improve the short-term structure and put $2,750 back in focus, followed by the $2,789 high.
But if ETH keeps failing below $2,700 and loses $2,668, the consolidation could extend toward the $2,632–$2,600 support zone.
ETH is coiling. The next clean break may decide the next major move.
#ETH #Ethereum #ETHUSDT #Trading #CryptoTrading $ETH