TLDR
- ETH trades at $2,652, holding above its 50, 100, and 200-day EMAs.
- RSI sits at 59, showing mild bullish bias without overbought conditions.
- Bitfinex short positions on ETH jumped roughly 13,000% in two weeks, according to Coin Bureau.
- Whale wallets added over 320,000 ETH in a week, worth close to $864 million.
- A major supply zone between $2,722 and $2,822 remains the key hurdle for further gains.
Ethereum is trading at $2,652 on Monday. The price has slipped below the $2,700 mark, but the broader trend still leans positive.
ETH remains above its 50-day, 100-day, and 200-day EMAs. These moving averages are clustered between $2,260 and $2,430, acting as a support base.
The Relative Strength Index (RSI) reads 59. That is a mildly bullish number that hasn’t reached overbought territory yet.
The MACD indicator has turned slightly negative. This suggests short-term momentum has cooled, though it doesn’t point to a deeper trend reversal as long as ETH holds above its EMAs.
Support and Resistance Levels
On the downside, the first support sits near $2,500. The 50-day EMA at $2,425 backs this up, with the 100-day and 200-day EMAs near $2,265 and $2,259 offering deeper support.
Further down, broader support levels are marked at $2,000 and $1,385. On the upside, the $3,000 level is the next major barrier. A clean break above it could reopen the door to a longer uptrend.
Analyst Coin Bureau flagged a sharp shift in trader positioning this week. In a post on X, Coin Bureau said ETH short positions on Bitfinex jumped nearly 13,000% in two weeks, rising from about 771 ETH to over 101,000 ETH. Coin Bureau called this an extreme build-up in bearish bets, adding it could fuel a short squeeze if ETH price moves higher.
🚨ALERT: ETH bears are going ALL IN on Bitfinex.
ETH short positions have EXPLODED by roughly 13,000% in just TWO WEEKS, surging from around 771 ETH to over 101,000 ETH.
That is an EXTREME buildup in bearish positioning, and it could become POWERFUL short-squeeze fuel if $ETH… pic.twitter.com/PXjX6R1jD1
— Coin Bureau (@coinbureau) September 27, 2026
Separately, whale activity has picked up across the Ethereum network. Large transactions worth more than $1 million rose from 1,202 to 7,113 in a week, based on data shared by analyst Ali Charts. That’s close to a 500% increase.
Ali Charts also noted that large wallets added more than 320,000 ETH over the same period. At current prices, that’s worth about $864 million.
2/5 Whale activity remains elevated across the Ethereum $ETH network.
Over the past week, transactions worth more than $1 million have surged nearly 500%, rising from 1,202 to 7,113. pic.twitter.com/r8m9TEuyct
— Ali Charts (@alicharts) September 27, 2026
Large transactions don’t always mean buying, since they can include transfers between exchanges or custodians. Still, the scale of the activity stands out against the backdrop of Ethereum’s current price range.
Ethereum’s Supply Wall
Ethereum is approaching a supply zone between $2,722 and $2,822. More than 13.3 million ETH previously changed hands in this range.
That heavy trading history means many holders may look to exit positions once price returns to this zone. This could create resistance as ETH tries to move higher.
If ETH clears this zone, the next levels to watch are $2,970 and $3,366. These marks would become relevant only after a sustained break above the current supply wall.
For now, the setup shows two competing forces. Whale accumulation is rising, while a large supply zone continues to cap price gains.
The relationship between these two factors is likely to shape Ethereum’s next move. Traders are watching whether buying pressure from large wallets can absorb the selling that emerges near $2,722 to $2,822.
As of Monday, ETH continues to trade at $2,652, just under the $2,700 level.
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