Spot Bitcoin ETFs saw substantial capital inflows of $986.9 million for the week ending September 5, 2026, bringing the cumulative three-week total to $3.8 billion—the strongest performance of the year for these funds. In contrast, spot Ethereum ETFs recorded $218.4 million in inflows over the same period, a sharp 74% drop from the $824.4 million registered the previous week, highlighting a notable divergence in investor sentiment between the two leading cryptocurrencies.
Against this backdrop of shifting ETF dynamics, Ethereum is preparing for the highly anticipated Gl Amsterdam upgrade, slated for mainnet launch in the fourth quarter of 2026. While an exact date remains unconfirmed, the upgrade is designed to enhance network scalability and optimize transaction and data processing efficiency. These fundamental developments come on the heels of Ethereum’s robust price rally during the latter half of August, setting the stage for its next phase of growth.
Technical Analysis of ETH/USD
On the four-hour ETH/USD chart, a prominent uptrend initiated with a sharp volume-driven impulse well above recent averages. Near the peak of this upward move, an ascending wedge pattern emerged as price action narrowed into a classic consolidation. Although the market attempted a downside breakout at the end of August, the move failed to gain traction, ultimately returning price action to the boundaries of the developing market profile.
This extended period of consolidation within the established boundaries suggests that market energy is accumulating ahead of the next major directional move. Currently, ETH/USD is trading within a tight range, oscillating between the Point of Control (POC) at $2,484 and the upper profile boundary at $2,521.
Looking ahead, a key resistance zone is identified around $2,566, situated near the top of the prevailing trend. Conversely, a significant support area lies at $2,368, though access to this lower level remains guarded until the price successfully breaches the lower profile boundary at $2,428.
The RSI + MAs indicator currently displays readings of 53, 55, and 53. Both the oscillator and the moving averages remain below the upper boundary of the neutral zone, attempting to drift higher as the moving average lines turn green, suggesting underlying bullish momentum.
Key Takeaways
The prolonged consolidation following the failed downside wedge breakout has yet to yield a clear direction for the ETH/USD pair, though the RSI + MAs readings hint at a potential recovery scenario. Meanwhile, the flow of capital into spot Ethereum ETFs continues to serve as a critical reference point for assessing Ethereum’s medium-term outlook.
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