Ethereum’s presence is weak today: BTC guards 83k, but ETH slips from 2,700 down to around 2,650. RSI is 58.7, the MACD has a weak golden cross turning into a flat signal, and volume is only 0.2x the 20-day average—classic “no one wants to add to positions,” building up momentum.
Key levels:
Support: 2,606 (Pivot S1) / 2,560 / 2,491
Resistance: 2,721 (Pivot R1) / 2,789 / 2,835
Structure: Price is still above the EMA20/50/200, so the market can’t really be bearish, but in the short term it’s acting like a “follower.”
ETH’s problem isn’t a technical breakdown—it’s that the narrative is being diverted: U.S. AI stocks, BTC ETFs, and tokenization of equities are all competing for the same pot of risk capital. High-beta assets like UNI/SUI are better at pulling emotion, while ETH feels more like a “large-cap blue chip”—slow, steady, and not as exciting.
Many people misread ETH: they only stare at an ETH/USDT chart and ignore ETH/BTC. In fact, if ETH/BTC doesn’t turn, an independent ETH rally won’t really start. You can check the latest crypto quotes on BiyaPay—display ETH, BTC, SOL, and UNI on one screen to instantly judge sector strength and weakness.
9/28 Strategy:
Already holding: If 2,606 doesn’t break, don’t cut; if it breaks 2,606, reduce positions when the candle closes.
No position: Take small longs in the 2,620–2,650 range, stop-loss at 2,598.
Bullish confirmation: Only consider 2,789 if the 4H timeframe is above 2,721 and volume comes back.
Avoid: Don’t chase at 2,700, and don’t panic-sell at 2,590.
For the mid-term, ETH is still institutional positioning after the “big cake,” but today it isn’t the star. First figure out relative strength, then decide whether to add.
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