Ethereum Price Holds $2,475 as $2,722 Target Comes Into View

Ethereum price traded around $2,482 on Sept. 8 after holding an important on-chain support area. Glassnode data cited by analyst Ali Martinez placed that support near $2,475.

About 2.86 million ETH previously changed hands around that price. Martinez said holding the area could leave room for a move toward $2,722.

Ethereum Price Holds $2,475 Cost Basis Support

Glassnode’s URPD data place one of Ethereum’s strongest nearby demand zones around $2,475. Roughly 2.86 million ETH previously changed hands near that level, creating a large cluster of holders with cost bases in the same area.

ETH crypto opened near $2,480 and reached an intraday high around $2,524, placing price directly above the demand cluster. The move also brought Ethereum back into the resistance area that has limited recent attempts to extend higher.

The URPD chart shows a much heavier supply zone above the market. More than 10 million ETH crypto changed hands between roughly $2,723 and $2,822. That concentration could create selling activity if Ethereum reaches it, since many holders entered positions within that range.

Between current support and the lower edge of that supply, the chart shows lighter volume. That structure keeps the $2,700 region in focus if buyers sustain the recovery.

Ethereum Price Prediction: $2,560 Sets the Breakout Test

Martinez’s short-term chart places the main resistance band between $2,520 and $2,560. Ethereum price has tested the lower edge, but the daily close provides clearer confirmation than a brief intraday move.

A sustained push above $2,560 would shift attention toward $2,600. Analyst Ella analysis marks acceptance above $2,600 as the condition that could open a move toward roughly $2,680.

The one-hour chart shows ETH crypto traded between about $2,370 and $2,530 since August 26, while the projected path moves through $2,600 before approaching the upper $2,600s.

A rejection from resistance would keep the range intact. Martinez identifies $2,435 to $2,470 as the first support zone. A daily close below $2,435 would weaken the recovery and bring $2,380 to $2,400 back into view.

Exchange Balances Fall by More Than 116,000 ETH

Exchange supply has moved lower during the latest recovery attempt. Santiment data shared by Martinez show that more than 116,000 ETH left exchanges within 48 hours, with the transfer value near $300 million.

The balance chart records a sharp decline over the final two readings, moving from above 15.7 million ETH toward roughly 15.65 million. That shift means fewer coins sit on centralized trading venues and remain immediately available for trading.

Ethereum exchange withdrawals do not confirm future buying or guarantee higher prices. They do reduce visible exchange supply while Ethereum tests the top of its recent trading range.

Ethereum Price Eyes $2,722 if Support Holds

Ethereum price now sits between its $2,475 cost-basis support and short-term resistance around $2,530. A confirmed break above resistance could strengthen the case for another advance.

Martinez identified $2,722 as the next major upside area while $2,475 remains intact. The projected move represents roughly a 10% gain from ETH’s Sept. 8 price near $2,482.

The next test would begin almost immediately above that level. More than 10 million ETH previously changed hands between $2,723 and $2,822.

A move into that region could therefore slow the advance or trigger renewed selling activity. However, the URPD concentration alone cannot predict how holders will respond.

A break below $2,475 would weaken the current Ethereum price prediction. A sustained move above $2,530 would instead shift attention toward $2,700 and $2,722.

This article is for informational purposes only and should not be considered financial or investment advice. Cryptocurrency markets remain highly volatile. Readers should conduct independent research and assess their financial circumstances before making investment decisions.