๐ฅ ETHEREUM RECOVERY IS BACK, BUT $2,460 IS THE TEST
Ethereum has bounced strongly from the $2,358.88 low and is now trading around $2,456, recovering more than 4% from the recent bottom.
On the 1H chart, ETH has reclaimed the MA(7) at $2,443.56 and MA(25) at $2,419.85. But there is still one major obstacle: the MA(99) at $2,461.05.
A clean 1H reclaim above the MA99 could signal that buyers are taking back control and open the door toward the $2,500 area. If ETH gets rejected there, the $2,420โ$2,400 zone becomes important support again.
๐ฆ The institutional picture is mixed.
BitMine continues to accumulate ETH and now holds 5.96M ETH, equal to about 4.9% of total supply. It also added 27,180 ETH in the latest weekly update.
However, U.S. spot ETH ETFs recorded a major $141M+ net outflow on September 15, their largest daily outflow since January. So institutional demand isn't moving in one direction right now.
That makes $2,461 especially important.
๐ Reclaim the MA99 โ recovery gains strength.
๐ Rejection at the MA99 โ sellers could regain control.
ETH is recovering, but the next resistance will tell us whether this is a real reversal or simply a relief bounce.
#ETH #Ethereum #ETHUSDT #Crypto #CryptoTrading $ETH
Ethereum has bounced strongly from the $2,358.88 low and is now trading around $2,456, recovering more than 4% from the recent bottom.
On the 1H chart, ETH has reclaimed the MA(7) at $2,443.56 and MA(25) at $2,419.85. But there is still one major obstacle: the MA(99) at $2,461.05.
A clean 1H reclaim above the MA99 could signal that buyers are taking back control and open the door toward the $2,500 area. If ETH gets rejected there, the $2,420โ$2,400 zone becomes important support again.
๐ฆ The institutional picture is mixed.
BitMine continues to accumulate ETH and now holds 5.96M ETH, equal to about 4.9% of total supply. It also added 27,180 ETH in the latest weekly update.
However, U.S. spot ETH ETFs recorded a major $141M+ net outflow on September 15, their largest daily outflow since January. So institutional demand isn't moving in one direction right now.
That makes $2,461 especially important.
๐ Reclaim the MA99 โ recovery gains strength.
๐ Rejection at the MA99 โ sellers could regain control.
ETH is recovering, but the next resistance will tell us whether this is a real reversal or simply a relief bounce.
#ETH #Ethereum #ETHUSDT #Crypto #CryptoTrading $ETH