Overview
- ETH was trading in the mid‑$2,500s on Sunday after breaking above the $2,550–$2,575 band and retesting that zone as support while still trading below the $2,672 weekly Fibonacci level.
- Spot Ethereum ETFs posted roughly $143.7–$143.8 million in net inflows on September 18, led by BlackRock’s ETHA, a move that helped spark the midweek rally into the high $2,600s.
- On‑chain analytics cited by analysts show Binance’s monthly average of ETH withdrawal transactions topped 90,000, the highest since 2023, which market observers interpret as coins moving off exchanges into private custody.
- The market’s swing from a mid‑September sell‑off was driven by the US Senate’s failure to advance the CLARITY Act and the Federal Reserve’s quarter‑point rate hike, factors that have amplified short‑term volatility.
- Analysts say a weekly close above $2,672 would open targets near $2,950–$3,000 and that sustained momentum will depend on whether weekly closes, continued ETF demand, and withdrawal trends confirm the shift from short‑term trading to longer‑term accumulation.