Ethereum (ETH) is currently priced at approximately $2,682, which marks a monthly increase of about 10%. However, the asset is still trading 46% below its all-time high of $4,953. Recent pric
Ethereum (ETH) is currently priced at approximately $2,682, which marks a monthly increase of about 10%. However, the asset is still trading 46% below its all-time high of $4,953. Recent price movements have established a short-term range, with buyers repeatedly defending the $2,650 level, while sellers are consistently active between $2,775 and $2,800.
On October 2, ETH made an unsuccessful attempt to break above $2,775 before retreating toward $2,650. This price activity continues to reinforce the upper $2,700s as a key resistance area in the near term.
Coinpaper, a digital asset market research firm, previously highlighted a $2,800 breakout as the critical level Ethereum would need to convert to support before targeting the $3,000 mark, which is considered a significant psychological barrier for traders.
The immediate technical structure for ETH now presents a direct path: holding support at $2,650, breaking out above $2,800, and aiming for $3,000. If Ethereum manages to surpass this milestone, the $3,050 area stands as the next resistance.
Level Role $2,650 Support $2,775–$2,800 Resistance $3,000 Psychological target $3,050 Next resistanceEthereum continues to face strong selling pressure in the $2,775 to $2,800 range, and has yet to confirm a sustained breakout above $2,800, according to recent technical analysis from Coinpaper.
The next update for the network, called the Glamsterdam upgrade, is scheduled to launch on the Sepolia testnet on October 6. This upgrade introduces significant changes to block construction, gas pricing, and Layer-1 scaling, paving the way for improved performance in future mainnet releases. The Ethereum Foundation, which is responsible for overseeing the development of Ethereum, has not yet set an official date for the mainnet deployment.
Mini dictionary: Sepolia testnet, an Ethereum test environment where developers deploy and test upgrades or applications before mainnet release. Testnets like Sepolia help identify issues without affecting real assets or network operations.
Glamsterdam is expected to address some of Ethereum’s longstanding challenges, including efficiency in block creation and gas fees, and to prepare the network for further scaling solutions.
The Ethereum Foundation stated there is no finalized date yet for deploying the Glamsterdam upgrade to mainnet, but preparations on testnets are actively progressing.
In the investment products space, U.S. spot Ethereum exchange-traded funds (ETFs) registered notable outflows in recent days. According to Farside Investors, these funds saw $59.6 million of outflows on September 30, followed by another $55.4 million on October 1 and $17.3 million on October 2. This marks a reversal following a period of inflows noted in late September.
Despite the recent negative ETF flows, on-chain indicators remain positive for the longer term. Earlier this month, exchange reserves of ETH fell to multi-year lows, while staking activity continued to reduce the available circulating supply. These trends suggest a tighter supply landscape, which could impact future price dynamics if demand rises.
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