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Ethereum Holds Support Above $2,560 Amid Rising Exchange Withdrawals and ETF Inflows

Ethereum confirmed a breakout above key technical resistance as monthly exchange withdrawals reached multi-year highs and institutional ETF inflows surpassed $10 billion.

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Ethereum traded at $2,637.24 after breaking through a resistance band between $2,550 and $2,575 on September 20, with 24-hour trading volume reaching approximately $11.4 billion. The upward move reflects a gain of over 75% across the past three months, rising from a low of $1,510.

Technical analysts, including Ali Charts on X, observed that ETH cleared the $2,560 level, validated it as new support, and is tracking technical resistance near $2,760, with other market forecasts citing targets ranging from $3,000 to new cycle highs. The token's third-quarter advance ranks as its second-best on record, underpinned by expanding decentralized finance activity.

On-chain and institutional data highlight strengthening demand metrics. Monthly average ETH withdrawal transactions on Binance exceeded 90,000, marking the highest level recorded since 2023, while cumulative inflows into institutional spot Ethereum exchange-traded funds have surpassed $10 billion.

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