Price is currently above all three moving averages, with MA7 > MA25 > MA99 a clean bullish structure.
But there’s one problem: ETH is now pressing directly into the $2,739.50 resistance zone.
If buyers can break and HOLD above $2,740, the next major target is the previous high around $2,777.33. A clean break there could put the psychological $2,800 area into focus.
THE INSTITUTIONAL TWIST
ETH’s technical structure is improving even while ETF flows have recently weakened. U.S. spot ETH ETFs recorded $37.4M in net outflows on Oct. 2, extending a four-day outflow streak.
That makes the current price action more interesting.
If ETH can continue making higher lows while institutional flows stabilize, the next breakout could have much more fuel behind it.
For now, I’m watching two things:
$2,740 immediate breakout test $2,777 major resistance / previous high
Bullish above the MA structure. Stronger confirmation comes from a clean breakout and hold above $2,740.