Ethereum price holds above key averages despite $2,800 rejection
US spot Ethereum ETFs drew $432.2 million in two days as ETH slipped toward a key support zone after failing to hold a rally near $2,800.
- Ethereum fell below $2,700 on Wednesday, September 23, after a rally toward $2,800 stalled, marking a 2.84% decline for the session.
- The rejection near $2,800 followed a steep advance from around $2,400 in mid-September, creating selling pressure that stalled the recent upward momentum.
- Ethereum ETFs recorded two consecutive days of net inflows totaling $432.2 million before the pullback, though the price dropped as low as $2,648.
- Crypto trader Ted Pillows identified $2,550 as ETH's largest liquidity cluster, while CoinGlass liquidation heatmaps highlight potential pressure near $2,650 and $2,630.
- For a recovery, ETH would first need to regain $2,700 and its 7-hour 20-period average near $2,710, while The Federal Reserve raised its target range to 3.75%–4.00% on Sep. 16.
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