In the latest trading session, Ethereum's price experienced a notable increase of over 3%, opening at approximately $2,361 and closing around $2,440, marking its first time surpassing the $2,400 threshold in over a week.

This price movement coincided with a significant rise in Ethereum's exchange reserves, which increased by more than 100,000 ETH within a 24-hour period, climbing from about 18.6 million to roughly 18.755 million on September 13.

The surge in exchange reserves suggests that many traders are transferring their ETH to exchanges, likely indicating a readiness to sell following recent price gains.

During this period, positive netflows of over 12,000 ETH were recorded, reflecting a trend where more ETH was sent to exchanges than withdrawn, indicative of heightened selling activity.

Despite the influx of ETH into exchanges, buyer demand effectively absorbed the incoming supply, contributing to a positive session close.

Moreover, significant withdrawals by buyers helped balance the inflows, showcasing strong buying interest that played a crucial role in maintaining price stability.

This overall balance between buyers and sellers is viewed as a positive indicator for Ethereum's price stability in the short term, despite the ongoing volatility.

However, the Relative Strength Index (RSI) remained near the neutral line, suggesting a larger bearish trend, as Ethereum was trading around $2,420 at the time of this analysis.