Ethereum Price Seeks Breakout Above Key Resistance Zone
Ethereum's price has reached a critical juncture as it presses against the upper end of its recent range. The cryptocurrency reclaimed the $2,500 area and is now targeting a breakout above $2,560.
Recent exchange data shows that more than 116,000 ETH was withdrawn from centralized platforms in just 48 hours, indicating a shift in supply. This comes alongside continued institutional participation through U.S. spot Ethereum ETFs, which attracted over $215 million in weekly inflows through September 4.
The immediate resistance sits around $2,550, $2,560, where ETH has repeatedly encountered sellers. A decisive daily close above this level is crucial for the bulls to take control and challenge the next major supply zone at $2,723, $2,822.
A sustained breakout through this upper supply zone would significantly improve the probability of ETH extending toward the $2,800 level, making it a key milestone for the bulls.