Ethereum Price Dips Below $2,700 After Failing to Break Through $2,800

The Ethereum price briefly dipped below $2,700 on September 23 after failing to break through the $2,800 barrier. The decline brought the day's low of $2,648 into focus, with US spot Ethereum ETFs having recorded two consecutive days of net inflows before the pullback.

Despite the reversal, the Ethereum price remained above its longer-term averages, including the 4-hour 50-, 100- and 200-period moving averages. However, it did fall below its 4-hour 20-period simple moving average at $2,709.81.

US spot Ethereum ETFs had seen significant inflows before the reversal, with Farside Investors recording $270 million in net inflows on September 21 and another $162.2 million on September 22. The next flow report will show whether US ETF investors continued buying as ETH retreated from $2,800.

Trader Ted Pillows identified $2,550 as a possible liquidity cluster for Ethereum, suggesting that the token could revisit this level before moving higher. For now, the immediate setup frames $2,648 and $2,710, with holding above the low keeping a short-term recovery possible and reclaiming the moving average putting the recent high back in view.