Ethereum’s native asset ETH was trading near $2,766.22 on Sept. 23, 2026, up 0.47% on the day, after clearing the 0.618 Fibonacci retracement level at $2,671.66 for the first time since a sharp pullback began in January. The level is measured from the 2025 cycle high near $3,396.63 down to this year’s low near $1,498.79, and had previously capped recovery attempts.
The breakout has strengthened bullish price predictions. Trader Crypto Tice noted that ETH has outpaced Bitcoin with a 75% rally over three months, while prediction market Kalshi now prices a 23% chance that Ethereum closes 2026 above $4,000, up from 13% odds in June. Analysts see little resistance between $2,750 and $3,000, and X user Wealthmanager expects a move to $3,000 “relatively soon.” Michael van de Poppe said Ethereum is entering an “interesting zone,” with the next resistance likely at $3,400, and added: “I don’t think we’ll see anything sub $2,000 in the near future again.”
Others are more aggressive: Trader Tardigrade spotted an inverse head-and-shoulders setup on the 3-day chart and projects a rally to $4,100, while X user Gerla argued ETH remains “ridiculously early in this move” and could eventually reach $10,000. Supporting the bullish case, ETH investors have been withdrawing coins from Binance at the fastest pace in three years, reducing immediate selling pressure and signaling longer-term holding.
Not everyone is convinced. X user DANNY warned that ETH could be setting up “a huge trap,” with potential capitulation to $1,500 and a cycle bottom by year-end. Analyst Midas sees a retest of the $1,700–$1,800 range and a possible drop to $1,400 in the short term, but remains long-term bullish, saying ETH has shown stronger relative structure than Bitcoin and could become “one of the strongest opportunities of the cycle” once the correction finishes.
