Ethereum Holds Near $2,765 as Selling Increases

Ether was last quoted at $2,764.32 on Sept. 23, up from $2,643.00 two days earlier and still well above its 50-day average of $2,309.43 and 200-day average of $2,083.58. The move comes after a sharp recovery from this year’s lows, with the token rebounding from a February trough near $1,822 and reclaiming ground above key technical levels.

Momentum gauges are constructive but no longer screaming lower-risk entry. Ether’s RSI reading was 69.2, just below overbought territory, while MACD remained positive at 98.369 versus a 80.791 signal line, suggesting the uptrend is intact but extended. The latest close also sat near the upper Bollinger Band at $2,738.51, a level that often draws both breakout buyers and profit-takers.

Crypto-related equities are moving with the tape. Coinbase closed at $201.05, near the top of its recent range and above both its 50-day and 200-day moving averages, while MicroStrategy rose to $168.50, extending gains as bitcoin strength keeps leverage-sensitive crypto proxies bid.

The backdrop is a market still betting that clearer US regulation can support the asset class, even as traders continue to sell into rallies through peer-to-peer venues. For Ether, the next test is whether demand can absorb that supply and keep the token above the $2,700 area on a sustained basis; a failure to do so would leave support around the low $2,600s and then the mid-$2,300s in view.