Ethereum shows bullish Elliott Wave progress as it nears the $2,750 target, a level representing a major resistance cluster as of 3 September 2026.
In this update, we examine the current Ethereum price action using Elliott Wave analysis to identify potential paths for the market. We are monitoring the development of a possible leading diagonal or impulsive structure, which would support our forecast for higher prices before a corrective pullback occurs. By tracking these patterns alongside our defined support and resistance zones, we provide a structured setup to navigate the current market environment.
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Ethereum (ETH) Price News & Insights Today 12-9-2026 - Technical analysis, focusing on market structure, key support and resistance zones. Video by More #Crypto Online.
Ethereum Insights Today
-Macro Economic Catalyst: The recent release of U.S. consumer price data showed core inflation dialing back to 2.4% (a five-year low). This initially sparked a risk-on rally and triggered $216 million in short position liquidations. However, the market remains cautious about an upcoming Federal Reserve interest rate decision.
-Massive ETF Inflows: While Bitcoin ETFs saw consecutive outflows, U.S. spot Ethereum ETFs attracted a massive $216.41 million net inflow on the final trading day of the week. This represents the highest single-day inflow since late August, indicating strong institutional consolidation.
-Whale Activity Spikes: According to on-chain analytics, the brief surge past $2,600 was heavily backed by large holders. Transactions on the network exceeding $1 million in value jumped by nearly 14% during the rally.
-The Overheard Supply Wall: Technical analysts note that ETH is hitting a major ceiling. There is a critical technical and psychological supply barrier sitting tightly between $2,700 and $2,800. Over 10 million ETH have historically traded in this block, creating thick resistance that the bulls must break to open a path back toward $3,000.
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