Ethereum's Breakout Above $2,800 Fails to Stick

Ethereum's (ETH) recent breakout above $2,800 was short-lived. The price rose to roughly $2,804 during the past week but fell back to around $2,660 by September 24.

The retreat comes despite strong demand for US spot Ethereum ETFs, with net inflows of $270 million on September 21, $162.2 million on September 22, and $104.5 million on September 23.

These figures indicate a sustained interest in Ethereum, but they do not guarantee a price increase.

The area around $2,800 is crucial for Ethereum's price movement. A brief move through this resistance range can attract attention, but holding above it would make a stronger case that the rally has room to run.