Ethereum price fell 1.5% to about $2,665 on Sep. 28 as oil prices rose following a setback in US-Iran talks. ETH remained above its daily moving averages, but its 4-hour chart showed weak trend strength below $2,700. Summary Ethereum price fell after reaching an intraday high of $2,703. The 4-hour ADX stood at 14.40 as price traded near the lower Bollinger Band. CoinGlass showed liquidation clusters near $2,700 and $2,740–$2,750, with another near $2,620. Vitalik Buterin described Hegota, planned for 2027, as Ethereum’s likely last “normal” fork. According to Reuters, oil rebounded on Monday after President Donald Trump rejected Iran’s latest proposal to resolve the conflict and reopen the Strait of Hormuz. The rise in oil prices came as Ethereum and the broader crypto market declined. Ethereum’s Binance daily chart showed ETH opening at $2,688.65, climbing to $2,703.51 and falling as low as $2,635.69. It traded near $2,661 when the TradingView chart was captured. The move left $2,700 as the nearest level for buyers to recover, while Monday’s low marked the first test below $2,650. Ethereum stays above its 20-day moving average ETH remained above all four moving averages shown on its daily chart despite Monday’s decline. The 20-day simple moving average stood near $2,586.78, while the 50-day average was at $2,403.66. The 100-day and 200-day averages were near $2,103.59 and $2,104.79. Ethereum price daily chart — Sep. 28 | Source: TradingView The daily chart therefore placed the nearest moving average roughly $74 below ETH’s price at the time of capture. Before reaching it, sellers would have to push through Monday’s $2,635 low. A recovery above the day’s $2,703 high would instead put the recent price area near $2,800 back in view. Ethereum’s daily Awesome Oscillator read a positive 145.10, although its latest bars were red. The indicator remained above zero as its bars showed momentum easing from earlier in the rally. ETH had risen from roughly $2,400 in mid-September to a high near $2,800 before pulling back. The 4-hour chart showed more immediate pressure. ETH traded near $2,661, below the middle Bollinger Band at $2,687.58 and close to the lower band at $2,650.52. The upper band stood at $2,724.65. Ethereum price 4-hour chart — Sep. 28 | Source: TradingView Its 4-hour Average Directional Index, or ADX, had fallen to 14.40. The reading indicated weak trend strength after ETH moved sideways below its recent high. A return above the middle Bollinger Band would put $2,700 and then the upper band near $2,725 in focus. A move below the lower band would bring Monday’s $2,635 low into the next test. Liquidation bands frame the $2,700 test CoinGlass’s three-day ETH liquidation heatmap showed a band around $2,700 and brighter concentrations near $2,740–$2,750. Those levels sat above ETH’s price when the map was captured, with the higher band lying beyond the upper Bollinger Band on the 4-hour chart. Ethereum liquidation heatmap | Source: CoinGlass Below the market, the heatmap showed activity around $2,640–$2,650 and another band near $2,620. ETH had moved through part of the upper area during Monday’s decline before recovering. The bands mark prices where leveraged positions may face liquidation; their size and location can change as traders adjust positions. Crypto analyst Ella said she was watching $2,715–$2,720 as the first upside test after ETH bounced from around $2,667. She identified $2,740 as the next level if buyers held above that range. On the downside, she said a loss of $2,680 could lead to another test of $2,665. Analyst Gerla said ETH’s relative strength index was making lower highs while price held its broader breakout structure. Gerla identified $2,400–$2,450 as a wider support zone and said a move back above $2,830 could bring $3,400 into focus. Those levels describe a longer-range setup than the nearby bands on the 4-hour chart. $ETH is cooling off, not breaking down.RSI is making lower highs while price keeps holding the breakout structure.$2.4K–$2.45K is the key support. If that holds, this looks like a reset before the next leg.Reclaim $2.83K and $3.4K comes into focus.The bigger $ETH move may… pic.twitter.com/Y1Q5htzqY8— Gerla (@CryptoGerla) September 28, 2026 Hegota roadmap offers longer-term context Ethereum co-founder Vitalik Buterin wrote on Sep. 27 that Hegota, planned for 2027, would likely be Ethereum’s last “normal” fork. He said later upgrades would involve recursive STARKs, automated formal verification, more efficient consensus, and work toward quantum safety. Buterin described a longer-term change in Ethereum’s design as the network combines its blockchain with more cryptographic verification and decentralized systems outside the base chain. His post did not set out a near-term ETH price target. For the current price setup, the levels are closer together. ETH would need to recover the 4-hour Bollinger midpoint near $2,688 and hold above $2,700 before testing the upper band near $2,725 and the liquidation cluster near $2,740–$2,750. A break below Monday’s $2,635 low would bring the lower cluster near $2,620 into focus, followed by the daily 20-day average near $2,587. US investors are also watching the oil market after the latest setback in US-Iran talks. ETH’s reaction around $2,650 and $2,700 will show whether Monday’s decline extends or the price returns to the range below its September high. Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only.
