Ethereum is hovering near $2,760 after a seven-day gain of roughly 14%, with the price pressing against resistance around $2,786 but unable to secure a sustained move above $2,800. The latest push comes as US spot Ethereum ETFs record a third consecutive day of net inflows and BitMine confirms another weekly ETH purchase.
Spot Ethereum ETFs Extend Inflow Streak
US spot Ethereum ETFs brought in $270 million in net inflows on September 21, according to Farside Investors. BlackRock’s ETHA led with $110.1 million, while Fidelity’s FETH added $73 million. That followed $143.7 million in inflows on September 18, which snapped a three-day outflow streak.
Farside later recorded $162.2 million in net inflows for September 22, extending the streak to three sessions and lifting the combined total to $575.9 million. Some earlier reports citing two days and roughly $413.8 million captured the streak before the latest session was counted.
The fund data confirms demand for ETF shares during those sessions, but it does not reveal how much of ETH’s price gain came from that demand. Ethereum rose alongside the broader crypto market, and flow data alone cannot isolate a single cause for the move.
BitMine Adds More ETH to Its Treasury
BitMine confirmed on September 21 that it purchased 27,562 ETH during the previous week. The company held 5,983,940 ETH as of September 20, representing about 4.9% of reported supply, and has said it aims to own 5%. BitMine also reported staking 5,067,309 ETH, roughly 85% of its holdings.
Shortly after the update, Lookonchain flagged a 12,500 ETH withdrawal from Kraken linked to BitMine. The transfer may signal another addition, but BitMine’s confirmed balance predates the withdrawal. The company has not included those 12,500 coins in its cited holdings update, so its reported total remains 5.98 million ETH.
BitMine chairman Tom Lee expects institutions to increase crypto exposure in the fourth quarter of 2026, saying such buying could add meaningful upside to gains since June 30. The comment reflects an expectation rather than confirmed future demand.
Ethereum Faces Key Resistance Below $2,800
The daily chart shows initial resistance at $2,786, followed by $2,894. ETH has held above $2,700 after pulling back from the first level. Nearby support sits at $2,626 and $2,544, with the 20-day exponential moving average around $2,537. The relative strength index near 71 points to strong recent momentum but also raises the risk of short-term pullbacks.
One technical analysis identified $2,775 to $2,825 as a possible consolidation zone, with $3,050 as an initial upside target. The same analysis suggested a drop below $2,560 to $2,565 would raise doubts about the market structure. These are conditional readings, not guaranteed price levels.
Ethereum also spent time below $2,800 during its 2025 rally. That earlier pattern adds context, but it does not set a timetable for 2026. For now, steady ETF inflows and BitMine’s confirmed purchase accompany a price test that remains unresolved: ETH has approached $2,800 without sustaining a move above it.
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