Ethereum Price Hovers at Key Fibonacci Level
Ethereum's price is hovering around $2,672, a level that could have significant implications for the cryptocurrency. This Fibonacci retracement level corresponds to Ethereum's decline from its October 2025 peak of $4,946 to its January 2026 trough.
The current price of $2,570 is just $100 below this crucial mark, and traders are closely monitoring it as the weekly candle sets to close on September 20. A weekly close above $2,672 would target the next major resistance in the $2,950 to $3,000 range.
The recent uptrend leading up to this pivotal moment has been significant, with Ethereum experiencing a four-session streak of increases. Additionally, the influx of funds into spot Ethereum ETFs, totaling $143.8M, has contributed to the surge in price.