Ethereum Breaks Year-Long Downtrend but Faces Resistance at $2,800

Ethereum (CRYPTO:ETH) recently closed above a line that has capped its rallies for the past year. However, it stumbled at the $2,800 mark not once, but twice within a week, specifically on September 21 and September 23, 2026. Chart analysts…

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Ethereum (CRYPTO:ETH) recently closed above a line that has capped its rallies for the past year. However, it stumbled at the $2,800 mark not once, but twice within a week, specifically on September 21 and September 23, 2026. Chart analysts see the first close above the downtrend as a potentially positive change, while the repeated struggles at $2,800 indicate a barrier ahead.

This raises the question: which signal should investors focus on in the coming weeks?

Currently, Ethereum is trading at $2,688, up 3% this week and 7% this month. Despite this, it remains down 9.4% for 2026 and 31% year over year.

Compared to its peers, Ethereum’s performance is more disappointing. Bitcoin has fallen by only 3.3% this year but has soared 96% over the past five years. XRP has seen a similar upward trend, with a 64% gain in five years. In contrast, Ethereum has dropped by 12% during the same timeframe, with only Solana joining it in the red.