Crypto
Ethereum Price Consolidates After Rally - Analyst Says $2,530 Is Fine
Ethereum cooled off after tagging $2,730, but spot ETF inflows keep rolling in. Van de Poppe sees a normal pause and a path to $3,000.
BLOCKINSIDERLoadingEthereum cooled off after tagging $2,730, but spot ETF inflows keep rolling in. Van de Poppe sees a normal pause and a path to $3,000.
Ethereum price traded around $2,705 after a quick run from $2,640 to roughly $2,730 on the hourly chart, and cooled slightly since that high.
Crypto analyst Michaël van de Poppe sees it differently. He calls the move a normal consolidation after a fresh push higher and says a retest of $2,530 would still be fine.
Analyst Van de Poppe shared his view in a post on X, mentioning that "nothing wrong is happening" when you look at the ETH chart. He called the current price action "consolidation" after a sudden move up and said a test of $2,530 would be "completely fine."
That level sits about 6.5% below the current price and reasonably under the recent swing lows. So he is comfortable with a deeper dip than most short-term traders would expect, as long as the bigger trend holds.
In a separate post, he said that ETH is acting stronger than Bitcoin and called the recent upgrades "super bullish." He expects Ethereum to break above resistance and then aim for $3,000.
ETF flows support the overall price analysis. As per SoSoValue data, spot Ethereum ETFs posted net inflows for seven trading days in a row, starting September 18.
The biggest day came on September 21 with $269.98 million, followed by $162.31 million on September 22 and $104.63 million on September 23. The weekly numbers look similar. The week ending September 25 brought $689.88 million in net inflows. This was a major turnaround from the $140 million that left the funds the week before.
Monday added another $17.10 million and pushed cumulative net inflows to $13.96 billion. Total net assets held by spot Ethereum ETFs now stand at $17.69 billion. Steady fund buying while the price stalls under $2,730 fits Van de Poppe's view of a healthy pause.
On the 1-hour chart, ETH bounced from the $2,640 to $2,650 area, reclaimed $2,670 and pushed through $2,700 before topping near $2,730.
Immediate support sits at $2,690 to $2,700, the zone ETH just broke back above. Below that, $2,670 and $2,640 to $2,650 are the next floors, with $2,600 as major chart support.
The indicators lean bullish. The 6-period RSI reads 65.78, while the 12 and 24-period readings sit at 60.08 and 55.58. Short-term RSI is close to overbought but not at an extreme, so there is still room to climb.
The first hurdle is the $2,715 to $2,730 zone. A clean hourly close above $2,730 would bring $2,750 and $2,775 into view, followed by the $2,800 to $2,825 area. A move past $2,825 would confirm a stronger breakout, and $2,900 would come next if the rally speeds up.
On the downside, a rejection near $2,730 followed by a loss of $2,690 could drag ETH back toward $2,670 and then $2,640. A break under $2,640 would weaken the recovery and put $2,600 in focus.
For now, Ethereum looks like a bullish recovery inside a range. Buyers need to turn $2,730 into support before anyone can call it a fresh breakout. With ETF inflows holding up and Van de Poppe targeting $3,000, bulls have reason to stay patient through a pullback.
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