Ethereum has broken through the $2,500 resistance level, trading at $2,716.86 with a 24-hour increase of 5.7%. The cryptocurrency is posting its best third quarter since 2016, according to CoinGlass' quarterly returns data.
With nine days remaining in September, Ethereum is up 67.57% for Q3 2026. This strong performance contrasts sharply with the first half of the year, when ETH declined 29% in Q1 and 25% in Q2.
Validator Exit Queue Grows
Ethereum's validator exit queue has reached 132,832 ETH, the highest level in three months. This indicates a rising number of validators waiting to withdraw their staked holdings, which could signal increased selling pressure.
Exchange reserve data presents a more nuanced picture. According to Alphractal, Bitcoin exchange reserves are rising while Ethereum exchange reserves are declining, suggesting less ETH is immediately available for sale. This dynamic could reduce near-term selling pressure despite the elevated validator queue.
Price Levels and Technical Conditions
Ethereum has established a new support level between $1,900 and $1,500. The Relative Strength Index (RSI) is positioned above the neutral line in a healthy range, while Bollinger Bands are running parallel to each other, according to Trading View data.
The path forward depends on whether ETH can sustain above the $2,500 threshold or decline toward lower support levels if selling pressure increases.
