Ethereum struggles to break $2,800 amid weak ETF demand but eyes $3,000 with upcoming Glamsterdam upgrade.
Ethereum (ETH) closed near $2,687 on Oct. 4, failing to sustain a breakout above the key $2,800 resistance level that could lead to a push toward $3,000. Institutional demand has weakened, with U.S. spot Ethereum ETFs seeing net outflows over three consecutive sessions, pressuring ETH's rally. However, the upcoming Glamsterdam upgrade, focusing on scaling and efficiency improvements, is expected to activate on the Sepolia testnet on Oct. 6 and may provide a catalyst for ETH to revisit $3,000 if technical resistance is overcome. Support remains around $2,600–$2,650 if the price fails to hold above $2,700.
Ethereum (ETH) closed near $2,687 on Oct. 4, failing to sustain a breakout above the key $2,800 resistance level that could lead to a push toward $3,000. Institutional demand has weakened, with U.S. spot Ethereum ETFs seeing net outflows over three consecutive sessions, pressuring ETH's rally. However, the upcoming Glamsterdam upgrade, focusing on scaling and efficiency improvements, is expected to activate on the Sepolia testnet on Oct. 6 and may provide a catalyst for ETH to revisit $3,000 if technical resistance is overcome. Support remains around $2,600–$2,650 if the price fails to hold above $2,700.
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