The ETHUSD pair is currently holding steady at around $2,400. Despite its impressive performance in the second half of August, there is still plenty of gas left in the tank for further growth.
What's keeping Ethereum in the game? A consistent stream of capital is flowing into US spot ETFs. On August 31, these funds pulled in roughly $87.7 million, and September 1 marked the twelfth consecutive session in the green—a clear sign that institutional appetite for the crypto is gradually making a comeback. What's more, such a consistent buying is effectively siphoning ETH off the open market, thus tightening supply. If demand stays resilient, it will be a recipe for higher prices.
However, smooth sailing is not guaranteed. The Federal Reserve (Fed) is still the elephant in the room. Oil costs are rising, inflation fears are sticking around, and bets on another interest rate hike are back on the table. This week, the 10‑year Treasury yield even flirted with 4.8%. Unsurprisingly, Ethereum took a 1% hit on September 2, falling to $2,445—despite ETF inflows. Higher returns make risk-free assets more attractive, which is never good news for the crypto. On the bright side, weaker US jobs data has already nudged yields lower. All eyes are now on the upcoming employment report to see where ETH will head next.
Technically, ETHUSD is stuck between $2,220 and $2,565. Nevertheless, after bouncing off the bottom, buyers are slowly regaining control. With the current mix of fundamentals and technicals, the most likely path is a grind higher toward the top of the range, i.e., the $2,565 resistance zone.
The final recommendation:
— Buy ETHUSD at the current price ($2,390), aiming to reach $2,565 within one month.
— To keep risk in check if the market moves against us, place a Stop Loss order at $2,220.
This content is for informational purposes only and is not intended to be investing advice.
