Ethereum Stalls at $2,507 Amid Hopes for Breakout to $3,000
Ethereum's price has been hovering near $2,507 on September 13, showing little movement after its recent spike to $2,600. Analyst Ali Charts notes a triangle pattern on the 12-hour chart that previously led to a 31% gain in just three days, suggesting a breakout above $2,550 could propel Ethereum towards $3,000.
Ethereum ETFs have seen significant inflows, with $216.41 million pouring in on September 11, led by BlackRock's ETHA, indicating strong investor interest. This trend is accompanied by a decrease in Ethereum's available supply on crypto exchanges to around 14.88 million ETH, a multi-year low.
As Ethereum nears the $2,550 resistance level, traders are also keeping an eye on upcoming Federal Reserve and legislative events for their potential impact on prices.