Ethereum is holding above $2,600 after reclaiming a liquidity zone, with trading activity concentrated in futures markets. The cryptocurrency traded near $2,740.20 on October 4, with resistance identified around $2,750 to $2,800.
Binance futures volume dominated trading on October 1, reaching approximately 12.5 times spot volume. According to CryptoQuant analysis, spot trading represented only 8% of the exchange's total volume ratio, down from earlier levels in the trading cycle.
Price Recovery and Trading Patterns
Ethereum advanced from $1,560 on June 27 to $2,700 by October 1, representing a gain of approximately 73%, or roughly $1,140, over the period. The recovery coincided with a slight increase in spot trading's relative contribution to total volume.
The concentration of futures trading reflects repeated trading activity and hedging but does not necessarily indicate excessive leverage positioning.
Technical Levels and Outlook
Support at $2,600 remains critical for the current breakout scenario. A decline below this level would weaken the case for a $3,400 liquidity target identified in technical analysis.
Longer-term projections outline $3,945 as major resistance before potential moves toward $8,000 and $10,000. The technical roadmap includes structural support near $1,000.
ETF Flows and Network Development
U.S. spot Ethereum ETFs recorded approximately $118 million in net outflows for the week ending October 2, reversing from $689.8 million in inflows during the previous week.
The Ethereum network is advancing planned upgrades, with Sepolia activation scheduled for October 6. These changes include enshrined proposer-builder separation and block-level access lists, designed to prepare the network for greater throughput and parallel processing. Glamsterdam's mainnet activation date remains unconfirmed, though it is scheduled for the fourth quarter of 2026.
