Ethereum Recovers From $2,360 Support As Analysts Eye $4,892 Resistance
Ethereum (ETH)
Editor:
Eugene Serbin
Tronweekly.com reports that Ethereum has staged a recovery after holding a key support zone following a sharp decline earlier in September. The asset is currently trading at $2,648.20, up 6.05% over 24 hours, with a market capitalization of $323.24 billion and 24-hour volume of $48.32 billion. This rebound follows a drop to $2,360 on September 15 before prices moved back above $2,600.
Crypto Patel identified the $2,360–$2,400 range as critical support, noting that ETH has bounced off this region to construct a recovery pattern. He stated that $4,892 represents the last big resistance before an eventual movement towards $10,000-$15,000. For this long-term breakout to occur, ETH must first clear several resistance zones between its current price and that $4,892 level.
A decisive move above $2,640 would offer technical confirmation for movement toward higher resistance levels. On-chain data from Santiment shows whale transactions are increasing while active wallets reached a record 207.17 million. Over 40 million ETH is staked, reducing available supply, while DeFi locked value sits at approximately $50 billion. Maintaining support above $2,400 keeps the recovery setup intact, with $2,500 and $2,640 serving as immediate targets.
How the market reacted
Whalio's own Binance spot order flow for ETH, measured when this story was written up on 19 September 2026. Not the outlet's figures.
Whalio spot data shows Ethereum trading at $2,612.14 with a 24-hour buy ratio of 56.2%, indicating that buyers controlled the majority of volume over the day. This compares to a 56.8% buy ratio over the last 4 hours and a lower 46.2% over the last hour, suggesting that buying pressure is building over the medium term but has cooled in the immediate short term. The 24-hour volume delta stands at +$161,094,919, meaning net buying has significantly outweighed selling pressure over the full day. In contrast, the 1-hour volume delta is -$977,865, showing a brief period of net selling pressure in the most recent hour. The cumulative volume delta (CVD) for the 24-hour close is +$129,593,171, confirming that aggressive buying has driven the price action. Spot volume reached $1,295,844,010 across 3,823,182 trades, reflecting high liquidity and active participation.
The latest daily buy ratio of 46.8% sits at the 16th percentile of the last 322 days, against a median of 49.5% - weaker buying than most days.
Was that an ordinary day?
The same Binance spot measurements for ETH, averaged over the days leading up to the story.
Over the preceding week, Ethereum saw a 7-day average buy ratio of 48.2%, making the current 24-hour ratio of 56.2% an 8.0 point increase above the weekly norm. This suggests that today’s buying activity is unusually strong compared to the average daily behavior over the last seven days. Volume was 1.54 times the weekly average, indicating that trading activity is significantly elevated relative to typical days. While the 24-hour volume delta was strongly positive at +$161,094,919, the 8-day total volume delta was -$29,071,506, showing that this recent surge has helped offset a broader weekly trend of net selling. The price changed by +3.8% over the 8-day period, with net buying occurring on only 2 of the 7 days, highlighting that today’s sustained buying is a notable deviation from the recent weekly pattern.