Key Highlights
- Ethereum (ETH) jumped about 4.5% over 24 hours to around $2,580, after trading between $2,435.96 and $2,592.86.
- The move came alongside a broader crypto rally, with Bitcoin climbing above $80,000 and total crypto market capitalization rising more than 4%.
- The SEC’s new Innovation Exemption added to sentiment around Ethereum-based tokenization and DeFi, although spot Ether ETFs continued to record outflows.
Ethereum (ETH) rallied sharply on Friday, climbing above $2,580 as the broader crypto market recovered from the sell-off that followed this week’s Federal Reserve rate hike.
ETH was trading around $2,580 on September 18, up roughly 4.5% over the previous 24 hours, according to CoinGecko data. The cryptocurrency traded between an intraday low of $2,435.96 and a high of $2,592.86, putting the $2,600 level back within reach.
Ethereum’s market capitalization stood near $315 billion, while 24-hour trading volume was about $18.7 billion. ETH has now gained more than 33% over the past 30 days.
The latest move also comes after ETH was testing the $2,400 area following the Fed rate hike and the Senate setback for the CLARITY Act, reversing much of that weakness within a day. The Crypto Times had earlier identified $2,400 as a key short-term support area for Ethereum.
Bitcoin Rally Pulls Ethereum Higher
Ethereum’s rally is not happening in isolation. Bitcoin moved back above $80,000 on Friday, rising more than 4% as crypto markets rebounded despite the Fed’s first rate increase in three years and this week’s setback for U.S. crypto legislation.
CoinGecko showed the total cryptocurrency market capitalization rising about 4.1%, indicating that buying was spreading across the market rather than remaining concentrated in ETH.
That broader recovery helped Ethereum move quickly from the mid-$2,400 range toward $2,600.
Ethereum ETF Outflows Have Not Reversed Yet
One part of the market has not confirmed the rally: U.S. spot Ethereum ETFs. According to Farside Investors data, the funds recorded $142 million in net outflows on September 15, followed by $224.1 million on September 16 and another $39.3 million on September 17.
That amounts to roughly $405.4 million of net outflows over three sessions.
The divergence means Friday’s price recovery cannot yet be attributed to renewed ETF demand. Instead, the move is taking place alongside a broader crypto rebound and improved regulatory sentiment around onchain markets.
Can ETH Break $2,600?
Ethereum is now approaching the upper end of Friday’s range, with the $2,592-$2,600 area forming the first immediate resistance zone.
A sustained move above $2,600 would extend the recovery that began near $2,436 and put ETH back above a level it struggled to hold earlier this month.
The next broader level remains $2,800, which was also identified in The Crypto Times’ September technical outlook after ETH broke through the earlier $2,500-$2,510 resistance area.
For now, the immediate test is whether ETH can convert the rebound above $2,500 into
Also Read: Ethereum Price Prediction September 2026: Can ETH Reach $2,800?
