Ethereum Price Prediction: ETH Tops $2,700 in Six-Day Rally, Can It Reclaim $3,000 in September?

TradingKey - Ethereum stages a strong comeback, rising for six consecutive sessions to hit $2,700, with potential to challenge the $3,000 psychological milestone by the end of the month.

On September 21, Ethereum (ETH) extended its recent gains, surging over 3% intraday to achieve a six-day winning streak and touch the $2,700 mark, breaking out of its narrow range-bound pattern over the past month and setting a new high since January this year. During the same period, Bitcoin (BTC) has yet to break out of its 30-day consolidation range, remaining capped at $82,000.

Ethereum has recently shown a clear recovery and sustained upward trend, rebounding sharply after dipping near $2,400 in mid-September to break through the $2,600 mark. The core driver behind this is the materialization of macroeconomic headwinds. Previously, market wait-and-see sentiment regarding macroeconomic policies led to a buildup of massive short positions. As Federal Reserve interest rate hikes materialized and falling prices of commodities such as crude oil alleviated inflation anxiety—coupled with a rebound in global stock markets—overall market risk appetite recovered. Consequently, ETH prices bounced back strongly, triggering liquidations of a large volume of derivative short positions, which further accelerated short-term gains.

In addition, transaction volumes and total value locked (TVL) on Ethereum Layer 2 networks such as Base, Arbitrum, and Optimism have continued to rebound significantly. The expansion of on-chain DeFi, real-world asset (RWA) tokenization, and stablecoin issuance has substantially increased fundamental demand for the Ethereum network along with expectations for token deflationary burning.

Building on these fundamentals, combined with Bitcoin consolidating at high levels after an earlier substantial rally, market capital began seeking large-cap blue-chip tokens with room for catch-up gains. The ETH/BTC trading pair staged a strong rebound after a prolonged period of bottoming out, driving ETH to catch up.

Looking ahead, if Ethereum can hold firmly above $2,700, it will technically open the pathway to the top of the $3,000 consolidation range. However, during its upward trajectory, ETH will face Fibonacci 0.382 resistance at $2,800, a dense overhang zone where selling pressure from break-even trades and profit-taking could concentrate.

ETH price chart, Source: TradingView