TLDR
- Ethereum traded near $2,713 on Oct. 1, up 1.87%, and held above the $2,700 level.
- A wallet linked to co-founder Joseph Lubin moved 133,298 ETH (about $356.2 million) to a new address, not to an exchange.
- ETH faces resistance at $2,747 to $2,800, with support at $2,670 and $2,636.
- 71.3% of retail traders are long, while top traders hold a smaller 57.1% long skew.
- U.S. spot Ethereum ETFs drew nearly $690 million over five sessions through Sept. 25.
Ethereum (ETH) traded at about $2,713 early on Oct. 1, up 1.87% on the day. The token held above $2,700, a level that has acted as a key battleground during its recent recovery.
A wallet linked to Ethereum co-founder Joseph Lubin moved 133,298 ETH to a new address. Onchain tracker Lookonchain reported the transfer, which was worth about $356.2 million at the time.
The tokens were not sent to a known centralized exchange. So far, there is no evidence the ETH was moved for an immediate sale.
ETH showed little reaction and traded around $2,715 at press time. Any later movement of the coins to exchanges could change how the market views the transfer.
Price Stalls Below Resistance
ETH hit a session high of $2,738.51 but could not hold it. The price now sits between support at $2,670 and resistance at $2,747 and $2,781.
The token was rejected near $2,800 on Sept. 23. It reached an intraday high near $2,789 before falling as low as $2,648.
ETH trades above its 7-day, 20-day, 50-day and 200-day moving averages. However, the MACD histogram has flattened to zero, and the RSI reads 64.55.
On the daily chart, the positive directional indicator stands at 29.17, above the negative indicator at 14.70. The ADX reads 39.67 but has declined from its September peak.
The 20-day Chaikin Money Flow sits at 0.10. That positive reading shows buying pressure remains stronger on a volume-weighted basis.
Traders, ETFs and Staking
Derivatives data shows 71.3% of retail traders are long, with a long/short ratio of 2.49. Top traders hold a smaller 57.1% long skew.
On Binance, the taker buy/sell ratio sits at 0.75. Sell-side volume reached 72,725 contracts against 54,213 on the buy side.
Open interest fell 1.47% over 24 hours. The funding rate stands at a neutral 0.0057%.
U.S. spot Ethereum ETFs drew nearly $690 million over five straight sessions through Sept. 25. BlackRock’s ETHA took in $326.2 million and Fidelity’s FETH added $174.1 million, though demand has since cooled.
About 43.5 million ETH was staked as of Sept. 28, around 35.66% of supply. Roughly 1.61 million ETH was waiting to enter staking, compared with about 161,000 waiting to exit.
On the 4-hour chart, ETH trades inside its 20-period Donchian Channel. The upper boundary sits at $2,748.60, the midpoint at $2,692.15 and the lower boundary at $2,635.69.
A close above $2,749 could bring the $2,800 area back into focus. A break above that level could open a path toward $2,900 and $3,000.
On the downside, $2,692 is the first support. A drop below $2,636 would weaken the short-term setup.
