Ethereum broke above its $2,550–$2,575 resistance zone on September 20 and has held the level as support. ETH traded at $2,637.24 at the time of reporting, up 0.41% over 24 hours and 4.60% over seven days, with trading volume around $11.4 billion.
Price Action and Technical Targets
The breakout triggered analyst attention, with market participants tracking $2,760 as the next resistance level. Some traders have identified $3,000 as a longer-term target.
Over three months, Ethereum moved from $1,510 to $2,650, representing a gain exceeding 75%. The advance cleared April's previous high and broke the prevailing downtrend.
Quarterly Performance
Ethereum's third-quarter gains rank second-best on record. Institutional demand has remained visible throughout the period, with ETF inflows topping $10 billion. Reports attribute the quarterly gains to clean technical breakouts and rising decentralized finance activity.
Exchange Withdrawals Signal Accumulation
Monthly average ETH withdrawal transactions from Binance have surpassed 90,000, the highest level since 2023. This represents double the withdrawal volume recorded at the start of the year and increased fairly suddenly over recent months.
Rising exchange withdrawals typically indicate investors moving coins into private custody, a behavior associated with medium to long-term holding strategies.
