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ETH Ethereum price analysis: Short-term range fluctuations, key resistance levels need to be exceeded
The current price of Ethereum (ETH) is about US$2,682, up about 10% from the previous month. However, the asset price is still 46% below its all-time high of $4,953. Recent price movements have established a short-term trading range: buyers repeatedly defend at the $2,650 level, while sellers remain active in the $2,775 to $2,800 range.
Technical and Resistance Zone Analysis
On October 2, Ethereum tried to break through US$2,775 without success, and then fell back to around US$2,650. This price activity further consolidates the position of the first half of the $2,700 as a key resistance area in the near term.
Digital asset market research firm Coinpaper previously pointed out that the US$2,800 breakthrough is a key support conversion level that Ethereum needs to confirm. Once it stabilizes, the target will point to the US$3,000 mark. For traders,$3,000 is seen as an important psychological barrier.
The current direct technical path for Ethereum is clearly visible: holding the support level of US$2,650, breaking through the resistance of US$2,800, and then targeting the target price of US$3,000. If Ethereum successfully crosses this milestone, the $3,050 region will become the next level of resistance.
According to Coinpaper's latest technical analysis, Ethereum still faces strong selling pressure in the US$2,775 to US$2,800 range, and has not yet confirmed an effective breakthrough to US$2,800.
Glamstam upgrades and upcoming catalysts
The next upgrade of the network called "Glamstam" is scheduled to be launched on October 6 on the Sepolia testnet. This upgrade introduces major changes to block construction, gas pricing, and Layer-1 expansion, paving the way for performance improvements in future mainnetwork releases. The Ethereum Foundation, which oversees the development of Ethereum, has not yet announced an official date for the main network deployment.
Noun explanation: Sepolia testnet is a test environment for Ethereum where developers can deploy and test upgrades or applications before publishing to the main network. Test nets such as Sepolia help identify problems without affecting real assets or network operations.
Glamstam is expected to address some of Ethereum's long-standing challenges, including block creation efficiency and gas costs, and prepare for further network expansion solutions. The Ethereum Foundation said that no final date has been set for deploying the Glamestead upgrade to the main network, but preparations for the test network are actively advancing.
ETF Fund Flow and Supply Trends
In the field of investment products, U.S. spot Ethereum exchange-traded funds (ETFs) have experienced significant capital outflows in recent days. According to Farside Investors, the funds outflowed $59.6 million on September 30, followed by $55.4 million on October 1, and $17.3 million on October 2. This marks a reversal in the flow of funds, after an inflow period occurred in late September.
Although ETF funds have recently shown a net outflow trend, on-chain indicators are still positive in the long run. Earlier this month, Ethereum's reserves on the exchange fell to multi-year lows, while pledge activity continued to reduce the circulation supply. These trends indicate that the supply pattern is tending to tighten, and if demand rises, it may have an impact on future price trends.
