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Can Ethereum clear US$2,672 this week and unlock a run to US$3,000?

Can Ethereum clear US$2,672 this week and unlock a run to US$3,000?

Ethereum gained 8.79 per cent over the last seven days. In 24 hours, Ether added 0.97 per cent to US$2,653.19. That performance beat Bitcoin’s 0.32 per cent gain. The wider crypto complex rose 1.04 per cent to US$2.81T.

The seven day move is not a random spike. It sits inside a strong shift into smaller tokens, especially Layer-1 and infrastructure names. The market shows a 66 per cent correlation with the Nasdaq-100 QQQ over seven days. That link signals a tech-driven and growth-sensitive tape. ETH rides that wave. It also faces a clear technical ceiling.

The rotation story is the primary pillar. Bitcoin dominance fell to 58.55 per cent. Capital moved from BTC into high-beta assets. Layer-1 tokens like NEAR gained 82 per cent weekly, and AVAX led the charge.

The Layer-1 category rose 6.96 per cent in seven days. The Data Availability narrative surged 75.18 per cent. Those numbers show traders hunt for outperformance beyond majors. ETH, as a leading alternative, benefits from this shift. The Altcoin Season Index increased 29.73 per cent over the past week. That gauge supports what price action shows.

Money moves down the risk curve. My take is that ETH’s 8.79 per cent seven day gain is a core part of this rotation, not the most explosive part. NEAR’s 82 per cent gain grabs headlines. ETH offers size, liquidity, and a cleaner institutional story. For many allocators, ETH is the safer way to express an altcoin view.

Technical momentum gives ETH its own fuel. The asset holds above its 50-week moving average near US$2,542. Its 24h trading volume rose 13.78 per cent to US$11.11B. That volume confirms buyer interest. The RSI-14 sits at 66.12. That reading suggests bullish momentum without being overbought. This is a healthy setup.

A rally on rising volume carries more weight than a quiet drift higher. Immediate resistance is the recent swing high of US$2,663.05. Key support is US$2,550 to US$2,575. If ETH holds that zone, the next target is US$2,950-US$3,000.

A daily close below US$2,550 would invalidate the near-term bullish structure and risk a deeper pullback toward US$2,400. The weekly close relative to the US$2,672 Fibonacci level is the most important trigger. In my reading, US$2,672 is the gatekeeper. A weekly close above it opens a clear path toward US$3,000. A failure there could trap late buyers and force consolidation.

Sentiment and flows support the move. The Fear & Greed Index is at 73, which signals Greed. US spot Bitcoin ETF AUM has grown to US$98.78B from US$86.37B a month ago. That growth indicates steady institutional accumulation. Positive ETF flow sentiment and technical breakouts amplify the rally. Leverage remains subdued. That reduces immediate squeeze risk. My view is that subdued leverage makes this rally less fragile than a leverage-driven melt-up.

It also means the move lacks forced buying from short squeezes. Sustainable upside needs continued spot demand and consistent ETF inflows. Daily ETF flow data matters here. Consistent inflows could provide a floor for the broader market and help ETH hold its support.

Macro correlation is the wild card. ETH shows 66 per cent correlation with the Nasdaq-100 ETF QQQ over the past week. The broader crypto market also shows 66 per cent correlation with QQQ over seven days. That shared link points to a macro-driven move. Growth expectations and tech-sector sentiment influence both assets.

The upcoming Glamsterdam network upgrade, with its Sepolia testnet scheduled for October 6, could renew fundamental interest in ETH. That gives ETH a coin-specific catalyst beyond the rotation trade. This catalyst could help ETH separate from pure beta if it arrives alongside stable macro conditions. If macro conditions shift, the same 66 per cent correlation could work against ETH. A growth scare would hit tech stocks and crypto together. So ETH’s bullish case rests on more than its own chart.

Bitcoin remains the anchor. The immediate trend hinges on BTC holding the US$81,000-US$82,000 support level. If BTC holds, altcoins like NEAR could test the next resistance near US$4.50. ETH could extend to US$2,950-US$3,000. If BTC breaks below US$79,000, profit-taking in altcoins may follow. That would likely pull ETH back toward its US$2,550-US$2,575 support zone.

A deeper break would risk US$2,400. ETH’s 8.79 per cent seven day gain is impressive, but it is conditional. Bitcoin dominance at 58.55 per cent shows rotation is real. BTC still sets the tone. A sharp drop in BTC would deflate the sector shift. So I watch BTC around US$81,000 as closely as I watch ETH around US$2,550.

The market outlook is bullish, with momentum and conditions. ETH’s rise continues its recovery trend. Solid volume and technical breaks back it. It rides a wave of altcoin rotation. The Altcoin Season Index, the Layer-1 gain, the Data Availability surge, and NEAR’s 82 per cent weekly move all confirm that capital seeks risk. The Fear & Greed Index at 73 and the ETF AUM growth to US$98.78B from US$86.37B add institutional backing. The 66 per cent correlation with QQQ adds macro sensitivity.

My final view is cautiously bullish but not blind. ETH can target US$2,950 to US$3,000 if it holds US$2,550 to US$2,575 and if BTC stays above US$81,000. The weekly close above US$2,672 is the signal that would confirm a clear path higher. A daily close below US$2,550 would flip the near-term bias.

The real question is whether altcoin leadership can hold if macro conditions shift. The evidence today supports continuation. The levels make the risk clear. ETH’s 8.79 per cent 7-day gain is a strong move. It remains a momentum trade with defined triggers. I would stay constructive while that floor holds and turn cautious if BTC loses US$79,000 or ETH closes below US$2,550.

Source: https://e27.co/can-ethereum-clear-us2672-this-week-and-unlock-a-run-to-us3000-20260921/

Anndy Lian is an early blockchain adopter and experienced serial entrepreneur who is known for his work in the government sector. He is a best selling book author. The latest book is Web4: The Age of Autonomous Intelligence.

www.anndy.com
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Did the Fed just accidentally kick off the next crypto bull run? Or just a dead cat bounce?

Did the Fed just accidentally kick off the next crypto bull run? Or just a dead cat bounce?

On September 18, 2026, global markets rose together. Asian stocks and bonds gained as oil extended its decline. European equities climbed. The STOXX 600 rose 0.9 per cent to 642.6 points. Mining and automotive sectors led those gains. The FTSE index gained 1.2 per cent. That marked its best one-day performance in over two months.

The Bank of England halted sales of long-dated gilts. That decision supported UK assets. The crypto market joined the rally. It rose 0.59 per cent to US$2.62T in 24 hours. The Federal Reserve had raised rates by 25 basis points on September 17, 2026. That was the first hike since 2023. Markets had fully priced in the move. The reaction became a relief rally. Investors focused on the end of the tightening cycle rather than the hike itself. That shift in sentiment lifted nearly every risk asset.

The economic backdrop aided risk assets. West Texas Intermediate crude fell 0.7 per cent to US$101.20 a barrel. Cheaper oil reduces inflationary pressure. US 10-year Treasury yields retreated from recent multi-year highs. Lower yields ease pressure on global equities. They also reduce the opportunity cost of holding non-yielding assets such as digital assets and gold. Spot gold remained steady following earlier weekly fluctuations. This combination of cheaper oil and steady bond yields created a helpful climate for digital assets. This macro mix gave traders a reason to add exposure.

The asset class traded as a rates-sensitive instrument on that day. Its correlation with the S&P 500 was 0.43. That is a moderate positive reading. It is lower than the 71 per cent figure that appeared in May of this year. The Bitcoin-gold tie was above 50 per cent at the start of this month. Some short-term gauges reached 0.8. That still shows a meaningful tie, but it is not 79 per cent. These figures indicate a looser connection than some earlier reports suggested. That matters for how investors interpret the advance. It does not mean digital assets ignore macro. It means the link varies with the news cycle. On this occasion, the Fed decision and the oil move mattered more than the usual internal drivers.

Group rotation amplified the market-wide move. The AI Applications category gained 5.83 per cent. The Privacy group rose 3.98 per cent. Independent verification did not directly confirm that exact figure. The broader privacy space has surged 213 per cent since October 2025.

Zcash drove almost all of that rise. Zcash posted a 13 per cent daily advance on September 16. It jumped another 15 per cent on September 17 following the Fed decision. Protocol upgrades and institutional interest fuelled that move. These movements indicate that market appetite extends beyond Bitcoin. Funds are seeking alpha in specialised narratives with strong fundamentals. That broadening of strength across asset classes is a healthy sign. It suggests the advance has a base value greater than one coin.

The near-term path for digital assets hinges on key technical marks. The current market cap sits just above the 50 per cent Fibonacci retracement level at US$2.6T. That mark now acts as support. The immediate trigger for the advance is past. The focus shifts to whether the advance can sustain. A close above the 23.6 per cent Fib threshold at US$2.67T could pave the way for a retest of the yearly high at US$2.73T. Failure to hold US$2.6T risks a pullback toward the US$2.57T to US$2.53T base zone. The 61.8 per cent Fib sits at US$2.57T. A break below that mark could signal a return to range trading.

My point of view is cautiously bullish. The combination of a digested rate increase and strong group rotation points to underlying strength. The market passed its immediate test. It absorbed a rate hike without collapsing. That is a significant signal. I still want to see confirmation.

Bitcoin needs to stabilise. The breadth of smaller coins needs to continue. The advance cannot rely on one group or a single economic event. The Privacy and AI Applications groups show leadership. That is encouraging. They remain relatively small parts of the overall capitalisation. For the advance to challenge US$2.73T, funds need to flow more broadly. I would like to see a weekly close above that pivot before turning more constructive.

I also watch the Ethereum Foundation AMA on September 16 for further sentiment cues. That event could provide insight into developer activity and network upgrades. It may not move prices on its own, but it adds to the narrative mosaic. The digital asset space is increasingly responsive to fundamental developments. That is a maturation story.

The worldwide economic backdrop remains the dominant driver. Cheaper oil and steady bond yields create a supportive climate for speculative assets. The central bank’s increase became a bullish catalyst because markets had already priced it in. The UK central bank’s decision on long-term government bonds added to the calm. Asian equities confirmed the trend. This is a coordinated advance. It is not a digital asset-specific event. That makes it more durable, but also more dependent on economic conditions remaining stable.

If oil continues to decline and yields stay contained, digital assets can test US$2.73T. If oil reverses or yields spike, the US$2.57T floor will come under pressure. The US$2.6T pivot is the line in the sand. Holding above it keeps the positive case alive. Breaking below it shifts the story back to choppy conditions.

In conclusion, the outlook is cautiously bullish momentum. Investors have digested the rate increase. Group rotation is strong. Chart marks are clear. The question now is whether Bitcoin can stabilise and the breadth of smaller coins can continue. Can investors capitalise on this economic clarity to challenge the US$2.73T resistance? I believe they can, but only if the speculative climate remains supportive. The next few sessions will tell us whether this upward move has true staying power or whether it fades into another range phase. I lean toward the former, but I remain watchful.

 

Anndy Lian is an early blockchain adopter and experienced serial entrepreneur who is known for his work in the government sector. He is a best selling book author. The latest book is Web4: The Age of Autonomous Intelligence.

www.anndy.com
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Why did Bitcoin and Ethereum move in near-perfect lockstep after the Fed rate hike?

Why did Bitcoin and Ethereum move in near-perfect lockstep after the Fed rate hike?

Bitcoin rose 0.82 per cent in 24 hours to US$76,318.25. Ethereum gained 0.80 per cent to US$2,418.94. The total crypto market cap increased one per cent, and the broader crypto market rose 0.99 per cent. These numbers point to a single conclusion. A relief bounce tied to the Federal Reserve lifted the entire asset class.

No coin-specific catalyst appeared in the data. The primary force came from the central bank. Bitcoin slightly underperformed that broad rise even as it gained. Ethereum tracked its larger peer almost exactly. This synchronised move indicates that the market is currently driven by macro headlines rather than project-level news.

The Fed raised rates by 25 basis points on September 16 to a target range of 3.75 per cent to 4.00 per cent. Market participants had widely anticipated this unanimous decision. The confirmation removed near-term uncertainty. Risk assets responded with a modest rally. The two largest digital assets moved in lockstep with that broader tide.

Bitcoin’s 90-day correlation with gold recently hit a multi-year high. That detail matters. It shows the leading cryptocurrency now trades more like a macro asset than a speculative tech bet. Ethereum remains highly sensitive to central bank cues and Bitcoin’s direction in the short term. The move has less to do with each network’s fundamentals and more with a market-wide sigh of relief.

This is a beta trade, not a fundamental repricing. A priced-in event often produces this kind of reaction. Traders sell the rumour and buy the fact. The fact here was a rate hike that no longer surprised anyone. The market had already absorbed the news before the Fed spoke, so the actual announcement simply cleared the air.

Supporting data in derivatives markets adds nuance. Bitcoin open interest fell 3.1 per cent. Liquidations dropped 65.79 per cent. That decline in forced selling suggests a calmer backdrop. Bitcoin dominance stayed elevated near 58.85 per cent. Capital has not rotated aggressively into riskier altcoins.

Instead, it remains defensive. Ethereum told a slightly different story. Average perpetual funding rates rose 40.74 per cent over 24 hours to +0.0053 per cent. Some derivatives traders leaned cautiously bullish. The absolute rate stayed far from extreme levels. Ethereum also benefited from its place in the Layer 1 narrative, which posted a 0.99 per cent sector gain.

Risk capital is rotating toward large-cap blockchain platforms, but it is doing so selectively. Bitcoin still leads. Ethereum follows. That relationship defines the current market structure. The lack of a leverage washout and the sustained dominance of the largest asset create a stable floor, but they also limit upside momentum. When capital stays defensive, rallies tend to be measured and shallow rather than explosive.

Institutional flows provide the most important test. U.S. spot Bitcoin ETFs recorded US$450 million in outflows on September 15. That figure shows hesitation among institutional investors. A return to net inflows would confirm renewed demand. Until then, price stability rests more on reduced selling pressure than on a fresh wave of buying.

Ethereum faces a similar question. The daily ETF flow report will show whether spot Ethereum ETF flows turn positive in the next 24 to 48 hours. Positive flows would confirm a return of institutional interest. Sustained outflows could pressure the support zone. The bounce then looks technical rather than durable.

This flow data matters more than any single derivative metric because it reflects real capital allocation from large investors. Without that capital, the rally depends on short-term traders and macro sentiment. That foundation is thin and can crack quickly if the next data release or policy comment shifts the mood.

Technical levels define the near-term battlefield. Bitcoin trades just above the US$75,000 support level, which has held for weeks. If the largest asset holds above US$75,000, a retest of US$78,189 resistance becomes possible. A break below US$75,000 would shift focus to the next support near US$74,000.

Ethereum consolidates between support at US$2,350-US$2,400 and resistance at US$2,500-US$2,600. Its 4-hour RSI sits at 53.17, a neutral reading. A daily close above US$2,500 would signal a breakout attempt. A break below US$2,350 would risk a deeper correction toward US$2,200.

The market is in a wait-and-see mode. It balances relief from the Fed against lingering regulatory uncertainty from the failed CLARITY Act. That legislative setback removed a potential positive catalyst and left the market without a clear regulatory path forward. Without that path, institutional investors may continue to hesitate, and that hesitation shows up in ETF flows.

In my view, the synchronised price action tells a story of a market where macro forces set the tone but internal dynamism remains weak. The Fed-induced relief rally is welcome. It is also fragile. It is a pause, not a pivot.

The path forward depends on two developments. One is that ETF flows must reverse from negative to positive. That shift would provide fresh institutional demand. The other is that both assets need convincing technical breaks above resistance. Bitcoin must reclaim and hold above US$78,189. Ethereum must close above US$2,500. Without those confirmations, the crypto complex remains vulnerable to the next macro shock or regulatory headline.

The high correlation with gold and Bitcoin’s persistent dominance show that capital seeks the safest harbours within the asset class during uncertainty. Until capital rotates more clearly into Ethereum and beyond, the recovery remains a beta-chasing exercise rather than a genuine broad-based bull market.

The next 24 to 48 hours of ETF flow data will offer the primary real test of whether this relief rally has legs. I would watch the US$75,000 level for Bitcoin and the US$2,350 level for Ethereum as the lines that separate consolidation from correction. I would also watch funding rates for signs of overheating. A sharp reversal there could trigger a squeeze and undermine the calm that currently supports prices. For now, the market has bought itself time, but it has not earned a new trend.

 

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Anndy Lian is an early blockchain adopter and experienced serial entrepreneur who is known for his work in the government sector. He is a best selling book author. The latest book is Web4: The Age of Autonomous Intelligence.

www.anndy.com
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