Ethereum Price Breaks $2,560 as Binance ETH Withdrawals Hit 3-Year High
TLDR:
ETH broke above its $2,550–$2,575 resistance zone on September 20 and now uses it as support.
ETH climbed from $1,510 to $2,650 in three months, a gain of more than 75%, according to Darkfost.
Binance’s monthly average of ETH withdrawal transactions topped 90,000, the highest level since 2023.
Institutional ETF inflows topped $10 billion, and Q3 is Ethereum’s second-best quarter on record.
Ethereum price action turned bullish as ETH broke above its $2,550–$2,575 resistance zone on September 20. The level now acts as support after ETH successfully retested it.
ETH trades at $2,637.24 at the time of writing, up 0.41% over 24 hours and 4.60% across seven days. Trading volume stands at roughly $11.4 billion, according to market data.
Source: Coingecko
Market participants now track $2,760 as the next target, while some traders point to $3,000 and beyond.
ETH Clears Resistance and Retests Support
Analyst Ali Charts shared his view of the move on X. His post labeled the setup a confirmed Ethereum breakout.
He stated that ETH broke above $2,560, retested it as support, and is now pushing higher. He noted that the breakout is holding, and he is watching $2,760 as the next major target.
Separate market commentary places the resistance band between $2,550 and $2,575. That zone had capped ETH before the breakout. Ali Charts’ $2,560 level sits inside that band.
The Ethereum price moved through the range on September 20. As a result, the former ceiling now acts as support.
Meanwhile, other traders are eyeing $3,000 as the next level after $2,760. Some predict $3,500 by the end of October.
Others expect new all-time highs by year-end. Each of these targets sits above current trading levels. The forecasts vary in both price and timeframe.
Quarterly Gains and ETF Inflows
Ethereum price gains this quarter rank second-best on record. Reports attribute the gains to clean technical breakouts. Rising DeFi activity has also supported the advance. Together, these factors shaped the token’s third-quarter performance.
In addition, institutional demand has remained visible throughout the quarter. Institutional ETF inflows have topped $10 billion. The report lists these flows among the drivers of the quarter’s gains. That total reflects sustained institutional participation.
On-chain analyst Darkfost outlined the scale of the rise on Cryptoquant. The Ethereum price moved from $1,510 to $2,650 in three months, a gain above 75%. That move cleared April’s high and broke the prevailing trend.
Binance Withdrawals Point to Accumulation
Darkfost also pointed to rising accumulation on Binance. His post described the buildup as silent and at a three-year high.
The monthly average of ETH withdrawal transactions from the exchange has surpassed 90,000. That is the highest level since 2023.
The figure is double the level recorded at the start of the year. The increase came fairly suddenly, he noted.
Withdrawals of this kind often suggest investors are moving coins into private custody. Such behavior is associated with medium to long-term holding.
Compared with Bitcoin, ETH has taken a slight lead in this trend. In contrast, Bitcoin has yet to establish itself durably above its May high. Darkfost added that the Ethereum price trend is currently stronger than Bitcoin’s.
