TLDR
- Ethereum is trading near $2,670 after stalling at about $2,786 below the $2,800 resistance.
- About $109 million in ETH positions were liquidated in 24 hours, mostly longs.
- BlackRock’s ETH funds bought $1.01 billion in Ethereum over the past 20 trading days.
- One whale rotated 1,308 BTC, worth about $104 million, into ETH over six days.
- The ETH/BTC ratio faces resistance at 0.03 after its highest weekly close in eight months.
Ethereum is trading near $2,670 after its latest push toward $2,800 stalled at about $2,786. It is the first real pullback since ETH broke out of its September range.
The move follows a strong run from below $2,400. ETH gained about 14% over seven days before the rally cooled.
Over three months, Ethereum is up roughly 75%, outpacing Bitcoin. AMBCrypto reported that ETH is on track for a 70% or higher return this quarter, which would be its strongest Q3 on record.
ETH Tests Support After $2,800 Rejection
ETH is now sitting on immediate support between $2,626 and $2,672. This zone acted as resistance earlier in the month.
The bigger level sits between $2,544 and $2,560. The 20-day EMA, horizontal support, and the 100-week EMA all meet in that range.
A close below that area would expose about $2,431, followed by the 50-day EMA near $2,368. On the upside, a weekly close above $2,800 would shift focus to $2,900 to $3,000.
The pullback caught some leveraged traders. About $109 million in ETH positions were liquidated over 24 hours, with longs making up roughly $97.5 million, according to CoinGlass.
Open interest stands near 13 million ETH, or about $34.8 billion. Since the late-June low, price has risen around 70% while dollar-based open interest rose about 60%.
Separate data from Alphractal, cited by AMBCrypto, showed open interest recently topped $30 billion for the first time since October 2025. The average long/short ratio across major exchanges was 1.54, showing more longs than shorts.
Institutions and Whales Keep Buying
US spot Ethereum ETFs recorded roughly $270 million in net inflows over two sessions earlier this week. That reversed a three-session outflow streak.
Arkham Intelligence data shows BlackRock’s two ETH funds bought $1.01 billion in Ethereum over the past 20 trading days. That includes $787.2 million through ETHA and $221.2 million through ETHB.
Whales are also active. Lookonchain reported that one wallet swapped 200.71 BTC, worth about $17.2 million, for 6,247 ETH.
Over six days, the same whale rotated 1,308 BTC, worth around $104 million, into 40,670 ETH. It staked all of it.
Network data tells a different story. CryptoQuant shows active addresses have stayed flat over three months, while mainnet transactions have declined. Recent upgrades have moved more activity to Layer 2 networks.
The ETH/BTC ratio is another level traders are watching. It just posted its highest weekly close in eight months but faces resistance near 0.03.
This is the third time in just over a month the ratio has hit 0.03 and pulled back. AMBCrypto said a break above that level would be needed to confirm stronger momentum toward $3,000.
For now, ETH is trading between $2,626 and $2,800, with $2,786 marking the latest high.
