CoinCodex historical data shows ETH closing near $2,687 on Oct. 4, after briefly reaching $2,765 a day earlier.
That leaves Ethereum back in familiar territory: $2,800 remains the level bulls have repeatedly failed to turn into support.
ETH Still Needs to Reclaim $2,800
Our Ethereum breakout analysis identified $2,700-$2,800 as the key area separating consolidation from a larger push toward $3,000.
That structure still holds.
If ETH can stabilize above $2,700 and eventually close above $2,800, the next major target is around $3,000. A rejection would keep $2,600–$2,650 in focus as the first meaningful support region.
ETF Flows Are the Bigger Problem
One obstacle is that institutional demand has weakened.
U.S. spot Ethereum ETFs recorded three consecutive sessions of net outflows through Oct. 2, including $59.6M on Sept. 30, $55.4M on Oct. 1 and $17.3M on Oct. 2, according to Farside Investors.
That contrasts with the stronger demand seen earlier in the quarter and adds pressure to ETH’s attempt to extend the rally.
Coinpaper recently tracked the same divergence in Ethereum ETF flows, where ETH funds flipped back to outflows even as Bitcoin products remained more resilient.
Glamsterdam Gives ETH a Fresh Catalyst
The technical picture is not the only thing traders are watching.
Ethereum’s next major upgrade, Glamsterdam, is scheduled to activate on the Sepolia testnet on Oct. 6. The upgrade focuses on Layer-1 scaling, block construction and more efficient gas pricing, with mainnet activation expected later in Q4.
Coinpaper’s Glamsterdam price setup has already linked the upgrade to the possibility of ETH revisiting $3,000 if technical resistance gives way.