Ethereum at a Crossroads: $2,800 Target Looms as Bulls Press Against Resistance

Ethereum has made a crucial recovery to reclaim the $2,500 area and is now at a turning point in its price movement.

The recent exchange data shows over 116,000 ETH moved off centralized platforms within 48 hours, indicating a significant supply shift alongside continued institutional participation through U.S. spot Ethereum ETFs.

The ETFs recorded more than $215 million in weekly inflows as of September 4, which adds to the bullish momentum.

The immediate resistance for ETH is around $2,550-$2,560, and a decisive daily close above this level would be crucial for further gains.

Above $2,560, the next major test for ETH will be the $2,723-$2,822 supply zone, with a sustained breakout through this zone potentially leading to a price target of around $2,800.