Summary
Ethereum (ETH) was US$2671.31, down 0.23% over 24h, per CoinMarketCap's own page data. CMC AI's price-analysis TLDR: Ethereum is up 0.53% to $2,672.60 in 24h, closely tracking a 0.68% rise in the total crypto market cap, primarily driven by anticipation of its upcoming "Glamsterdam" network upgrade. It shows a strong correlation (78.5%) with the S&P 500, indicating a macro-driven move. 1. **Primary reason:** Positive sentiment building ahead of the major Glamsterdam upgrade, scheduled for testnet activation on October 6. 2. **Secondary reasons:** Broader market beta, following Bitcoin's lead, and positive ecosystem news around institutional infrastructure partnerships. 3. **Near-term market outlook:** If ETH holds above the $2,650 support, it could retest the $2,700–$2,710 resistance zone; a break below risks a move toward the 200-day EMA near $2,668.