Key Insights:
- Bitfinex ETH short positions have climbed to a 51-month high, hitting approximately 73,056 ETH as of September 24.
- Ethereum is maintaining its position near $2,670 despite the dramatic increase in Bitfinex shorts, with $2,550 standing as a crucial support zone.
- The strength of the ETH/BTC pair is being monitored as an indicator for broader altcoin momentum, with a consolidation phase following a significant rally.
Ethereum’s price has surged roughly 86% from a June low of $1,506 after peaking at $2,806 earlier this month. The cryptocurrency currently changes hands near $2,670, marking a roughly 10% gain over the past week as the market cools down from its recent peak. Simultaneously, short positions for ETH on Bitfinex have grown to about 73,056 ETH, marking a 51-month high. This sharp surge in bearish bets places immediate attention on the $2,550 support floor and the overall strength of ETH/BTC.
Ethereum Price Prediction Sees $2,550 as Key Support
On the ETH/USD weekly chart, the primary support region is located around $2,550. This threshold aligns closely with the 100-week EMA at $2,558, a moving average that Ethereum recently surpassed following its bounce from June lows. Bulls must defend this zone to keep the upward trajectory intact.
A more severe pullback in ETH would shift focus toward the $2,180 mark. Additional lower support levels are identified near $1,965 and $1,713, which previously drew buying interest during the recovery from the Q2 selloff. However, Ethereum would have to break beneath $2,550 before those deeper targets come into play.
Looking upward, the 100-week SMA sitting near $2,761 serves as the initial obstacle. Resistance also clusters around the $2,800 mark, near Ethereum’s high set earlier in September. A weekly breakout past that zone would clear a path toward the larger resistance barrier around $3,447.
Bitfinex ETH Shorts Surge to 73,056 ETH
Short positions for Ethereum on Bitfinex expanded rapidly throughout September. Data from TradingView puts the aggregate total at approximately 73,056 ETH by September 24, driving short exposure to its highest point in roughly 51 months.
The recent weekly velocity is also notable, with Bitfinex ETH shorts expanding by over 53,800 ETH—a jump of roughly 280% within the charted period. Current short exposure towers above the levels observed across the majority of 2023, 2024, and 2025.
Historically, surges in Bitfinex shorts have often accompanied phases of downward price action for Ethereum. The current setup breaks from that norm because ETH has successfully retained the bulk of its recovery from the June bottom.
ETH/BTC Strength Keeps Altcoin Momentum in Focus
Meanwhile, the ETH/BTC weekly chart offers a broader look at Ethereum’s standing in the wider crypto ecosystem. The trading pair rebounded powerfully from its 2025 lows and has since shifted into consolidation following its primary rally.
The ETH/BTC pair climbs whenever Ethereum outperforms Bitcoin, serving as a key metric for traders tracking altcoin strength.
Current price models compare this market structure to the 2020–2022 cycle. During that previous timeframe, ETH/BTC bounced from a local bottom into a sharp rally before spending several months consolidating. The current chart mirrors that progression: a bottom, an explosive rally, and an ensuing sideways pattern.
For ETH/BTC to demonstrate renewed relative strength against Bitcoin, it will need to break out of its current consolidation channel.
Ultimately, Ethereum’s price is sandwiched between a distinct support floor and a nearby ceiling of resistance. Weekly indicators mark support at $2,550, while the $2,761–$2,800 zone constitutes the next hurdle. Maintaining the $2,550 level keeps ETH securely above its 100-week EMA.
This article is for informational purposes only and does not constitute financial or investment advice. Technical levels and derivatives positioning do not guarantee future price movements.