Ethereum Rallies Six Days Straight, Faces Key Resistance at $2,800

Ethereum is on a six-day winning streak, climbing above $2,650 and reviving speculation about a push toward $3,000 before September ends. The rally has been fueled by short liquidations, renewed spot ETF inflows, and expanding Layer 2 activity on Base, Arbitrum, and Optimism.

Bitcoin's advance toward $82,000 has contributed to the rotation into ETH, with the ETH/BTC pair staging a visible rebound off its bottom. Analysts at CryptoNews identified a confirmed breakout above $2,700 as the trigger for continuation toward $3,000.

The technical signals present a mixed picture: price has punched through its upper Bollinger Band, but the MACD histogram is flat at zero and Stochastics are firmly overbought. Positioning data shows retail traders heavily long at 69.2%, while top traders maintain a more hedged 55.4% long stance.

The critical resistance cluster sits between $2,725 and $2,786, with support near $2,585 and a deeper floor at $2,506. Analysts assign a 55% probability to a bullish consolidation followed by a breakout toward $3,000, with ETF flow consistency identified as the key variable.