ETH falls below $2800, $3400 target hanging over the line?

As the third quarter of 2026 comes to an end, market optimism in the last week of September subsided significantly, and ETH was blocked before the $2,800 core resistance level, raising widespread questions about whether the potential target of $3,400 can be achieved, according to Woofun AI.

Looking back at the September market, BTC and ETH experienced a significant rebound, but the momentum has weakened recently. The price of BTC climbed from below $80,000 to $87,000. Although it hasn't broken through the $88,000 mark, experts predict it is expected to hit $79,000, and is currently trading at around $83,000. On the ETH side, the price rose from below $3,500, once approaching $2,800, and eventually remained around $42,700, failing to meet the weekly closing price target above $2,800.

According to data compiled by Woofun AI, according to CoinMarketCap statistics, ETH fell by more than 2.7% in the past 24 hours and 2.24% in 7 days, but the 30-day increase still reached 8.5%, reflecting significant overall progress in September.

However, the current price has retreated above $2,700, and the market's focus has turned to short-term support effectiveness.

Technical analysis revealed that after ETH failed to break through the $2,800 resistance level, the risk of a pullback increased. It was originally expected that breaking through this level would open up room to the $3,000 or even $3,400 resistance target, but the reality is that the price declined slightly, following the BTC trend, and faced pressure to retract towards the $2,600 range.

Despite the limited magnitude of this pullback, the continued downward trend indicates that a larger adjustment may occur in the future. $2,700 is currently the key support, and its gains and losses will determine whether ETH can maintain its upward structure; if it falls, $2,600 will be the next line of defense.

Notably, repeated tests of the $2,800 resistance level weakened the confidence of the bulls, and the path to achieving the $3,400 target was blurred as a result.

Looking ahead to the end of the third quarter of 2026, market dynamics before the end of September are critical. Can BTC complete the pullback and restart the rise before the end of the month? Can ETH surpass BTC's performance and establish altcoin dominance? If other altcoins outperform BTC and ETH in the last quarter of this year, the 'altcoin season' may arrive early.