Ethereum price trades below $2,700 as ETF outflows pressure Uptober hopes

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Mykhailo Ihnatenko

06.10.2026

Ethereum price trades below $2,700 as ETF outflows pressure Uptober hopes — Ethereum enters October below key resistance

Ethereum is entering October without a convincing break above key resistance, while institutional flows are still failing to give bulls a clear advantage. The opening days of Uptober may therefore prove far more volatile than seasonal optimism would suggest.

ETH price prediction

24H 0.77%

$2,251.99

48H 0.66%

$2,249.45

7D -1.09%

$2,210.4

1M -19.14%

$1,807.09

3M -39.95%

$1,342.06

6M -52.32%

$1,065.44

12M -39.49%

$1,352.21

Detailed

Current price: $2,234.72 -10.16 0.45%

Real-time Data 10:39

Daily range 2229.56

2242.49

Weekly range 2206.28

2450.00

On October 5, U.S. spot Ethereum ETFs recorded combined net outflows of roughly $50.7 million. That extended a weak run following outflows of $37.4 million on October 2, $55.4 million on October 1 and $59.6 million on September 30. For now, institutional flows are not confirming a sustained return of demand for ETH.

Today, October 6, Ethereum is also approaching an important technical milestone. The Glamsterdam upgrade is scheduled to activate on the Sepolia network. It includes enshrined proposer-builder separation, block-level access lists and gas-pricing changes designed to prepare Ethereum for further growth in Layer 1 throughput. The Ethereum Foundation has stressed that this applies only to Sepolia, with dates for Hoodi and mainnet still to be determined.

Bearish divergence keeps downside risk elevated

ETH’s technical structure has changed little since the previous analysis. The price once again failed to establish itself above $2,720 resistance and has slipped back toward the $2,695 area.

The bearish scenario remains in play as long as ETH trades below $2,720. In that case, attention shifts to support at $2,630. A break and sustained move below that level would materially increase the risk of further downside toward $2,550, where the 50-day SMA is located.

RSI (14) adds another warning signal, with the indicator continuing to show a bearish divergence. This points to weakening underlying momentum even as price attempts to remain close to recent highs.

The current setup would be invalidated by a decisive move above $2,720 that holds for at least one to two days. That would ease selling pressure and reopen the path toward the major $2,900–3,000 liquidity zone.

Uptober may begin with volatility before direction becomes clear

October has historically been associated with stronger crypto-market performance, which is why the term Uptober is once again shaping investor expectations. Seasonality alone, however, does not guarantee a smooth move higher from the start of the month.

For Ethereum, early October could remain choppy and volatile. ETFs are still seeing outflows, price has yet to clear key resistance, and the market is simultaneously absorbing a major network catalyst in Glamsterdam. That combination could produce sharp false moves in both directions before a more durable trend emerges.

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