Summary
Ethereum (ETH) was US$2733.99, up 5.23% over 24h, per CoinMarketCap's own page data. CMC AI's price-analysis TLDR: Ethereum is up 3.31% to $2,659.88 in 24h, outperforming a broader market that gained 1.71%, primarily driven by a rebound in spot ETF demand. It shows a strong correlation (66%) with the S&P 500, indicating a macro-driven move. 1. **Primary reason:** Renewed institutional inflows into spot Ethereum ETFs, with $143.8 million flowing in on September 18 after a week of outflows, signaling renewed buying pressure. 2. **Secondary reasons:** A technical breakout above key resistance near $2,655, confirmed by a 30.8% surge in trading volume, and positive spillover from Bitcoin's rally above $80,000. 3. **Near-term market outlook:** If ETH holds above the $2,550–$2,672 support zone, it could target $2,800–$3,000; a break below risks a pullback toward $2,400. The upcoming Glamsterdam upgrade testnet on October 6 is a key catalyst to watch.