Crypto

Ethereum Traders Remain Bullish Despite $2,800 Rejection

Guavy AI Editorial Team Published September 28, 2026

Instruments

ETH

Ethereum traders are still eyeing $3,000 despite the recent rejection at $2,800. The cryptocurrency gained approximately 8.5% over the past month before reaching that level and pulling back.

The rally was fueled by massive inflows into US spot Ethereum ETFs, with six consecutive days of net inflows totaling $834 million.

Two on-chain measures have preceded earlier Ethereum rallies: trading-volume averages and the 365-day market-value-to-realized-value (MVRV) ratio. The seven-day and 30-day moving averages for trading volume have touched for the first time since November 2025, a bullish sign that has preceded three previous strong rallies.

Ethereum is trading near $2,652, holding above three closely watched moving averages and preserving a positive near-term technical outlook. However, the recent upward move may be losing pace, with a negative MACD reading and an RSI of 58 indicating positive momentum without reaching overbought territory.

Ethereum Traders Remain Bullish Despite $2,800 Rejection

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