ETHUSD rises amid strong institutional demand

ETHUSD is strengthening and continues to receive support from major market participants, with the price currently standing at 2,712 USD. Discover more in our analysis for 29 September 2026.

ETHUSD forecast: key takeaways

• Inflows into ETH ETFs have continued for the seventh consecutive trading session
• BitMine acquired around 27,562 ETH worth approximately 75.2 million USD
• ETHUSD forecast for 29 September 2026: 2,995 USD

Fundamental analysis

ETHUSD is on the rise after rebounding from the 2,640 USD support level. Buyers are approaching a key resistance level at 2,745 USD, a breakout above which could open the way towards 2,805 USD. Ethereum is being supported by sustained inflows into US ETH ETFs. On 28 September, the funds received around 17.1 million USD, marking the seventh consecutive positive trading session.

Another positive factor is the long-term development of the Ethereum network. Vitalik Buterin identified scaling and preparation for potential quantum threats among the key priorities. Institutional demand also remains strong. Last week, BitMine acquired around 27,562 ETH worth approximately 75.2 million USD, increasing its total holdings to nearly 6 million ETH.

At the same time, ETHUSD's upside is being limited by an unfavourable macroeconomic backdrop, as expectations of further Federal Reserve policy tightening support the US dollar and reduce the appeal of risk assets.

Technical outlook

ETHUSD rebounded from the EMA-65, indicating persistent bullish pressure. Today's ETHUSD forecast suggests a continued rise towards the 2,995 USD target.

The technical picture is shifting in favour of buyers. The Stochastic Oscillator formed a bullish crossover after rebounding from an ascending support line, indicating that upward momentum could strengthen. An additional bullish signal would be a breakout above the upper boundary of the Triangle pattern, followed by consolidation above 2,745 USD.

At the same time, the risk of an alternative scenario remains. If sellers gain a foothold below the 2,615 USD support level, this would invalidate the bullish scenario and open the door for a continued downward move.

ETHUSD overview

• Asset: ETHUSD
• Timeframe: H4 (Intraday)
• Trend: bullish
• Key resistance levels: 2,745 and 2,805
• Key support levels: 2,615 and 2,365

Ethereum trading scenario for today

Trading scenario (Buy Stop)

A breakout above the upper boundary of the Triangle pattern, followed by consolidation above 2,745 USD, would indicate stronger bullish pressure and confirm the pattern, with a target at 2,995 USD.

• Current price: 2,712
• Entry price: 2,745
• Stop loss: 2,710
• Take profit: 2,995
• Risk-to-reward ratio: above 1:7

The trade idea is valid until 8:00 AM on 3 October 2026 (server time, UTC+3).

Risk factors

The main risk to the bullish ETHUSD scenario remains buyers' failure to consolidate above the 2,745 USD resistance level, which could lead to increased selling pressure. Further USD strengthening amid expectations of additional Federal Reserve policy tightening could also put pressure on ETHUSD.

Summary

The ETHUSD forecast for 29 September 2026 points to the potential for further gains if the price consolidates above 2,745 USD, which would open the way for buyers towards the 2,995 USD target.

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