Ethereum Bulls Face Crucial Test as Resistance Looms Ahead
Ethereum's September performance was one of its strongest this year, rising by about 32.6% in August and continuing into the following month.
The token briefly reached $2,805 on September 21, its highest level of the month, before pulling back to around $2,690 by September 29.
The main question is whether this recovery will develop into a broader fourth-quarter rally, and experts are divided on the prospects for Ethereum's price in October.
Data from Arkham Intelligence shows that BlackRock's spot Ethereum ETF products have purchased more than $1.5 billion worth of ETH over a 20-day period, providing institutional demand for the token.
However, large holders are also beginning to realize gains following Ethereum's rally, with some selling significant amounts of ETH on exchanges.