Ethereum Price Holds Above $2,600 as Binance Futures Dominate Trading Activity

The Ethereum price has maintained its hold above $2,600, with a potential target of $3,400 identified as a conditional liquidity zone. Despite reaching approximately 73% growth since late June, ETH traded near $2,740.20 on October 4, while resistance remains around $2,750 to $2,800.

Binance futures have dominated trading activity, with a spot-to-futures volume ratio of 8%, resulting in futures volume being approximately 12.5 times that of spot turnover on October 1. CryptoQuant's Amr Taha notes that higher futures turnover can reflect repeated trading or hedging, rather than excessive leverage.

CryptoPatel projects Ethereum's price to reach $10,000 to $15,000 during a future altseason, with his roadmap marking $16,000 as a possible cycle peak around 2027-2028. The model links Ethereum's previous advances to Bitcoin's four-year halving pattern and labels the current phase Wave 4, followed by a projected Wave 5 expansion.

U.S. spot Ethereum ETFs have recorded approximately $118 million in net outflows for the week ending October 2, while Glamsterdam awaits its confirmed mainnet activation date.