Daily News 19

Tag: ETH price

  • Ethereum Logs Near-Record Q3 as ETH Nears All-Time High

    Ethereum Logs Near-Record Q3 as ETH Nears All-Time High

    Ethereum Stages Strong Q3 Recovery, Tests Key Resistance Above $2,500

    Ethereum (ETH) has mounted a significant comeback from its June lows, positioning the asset for one of its strongest third-quarter performances on record. The cryptocurrency currently trades near $2,492, marking a recovery of over 55% from the quarterly low of approximately $1,600.

    Technical Structure Shifts Bullish

    More importantly, Ethereum has reclaimed a position comfortably above all major moving averages after spending the majority of 2026 trading below them. The moving-average structure has improved substantially: short-term averages are rising beneath price action, with the $2,350–$2,400 zone serving as immediate dynamic support. Longer-term averages now cluster between $2,180 and $2,250, and ETH has even recovered its major long-term moving average.

    August Breakout Drives Momentum

    The strongest portion of the advance arrived in August. After consolidating around the $1,850–$1,950 range for several weeks, ETH surged through the $2,000 psychological level and swiftly reached the $2,400–$2,500 region. A significant increase in trading volume accompanied the breakout, reinforcing the move’s technical validity.

    Rather than surrendering gains immediately, Ethereum has since consolidated between $2,400 and $2,550. This consolidation is constructive, as the market remains well above the prior breakout zone while absorbing the strong August advance.

    Momentum Shows Signs of Cooling

    Despite the bullish structure, indicators suggest short-term momentum is moderating. The Relative Strength Index (RSI) soared into overbought territory during the August breakout but has since declined toward the mid-50s. This retracement eliminates much of the overheated condition from the initial rally, though it also signals buyers have lost some near-term urgency.

    Next Key Test: $2,550–$2,650 Resistance

    The next significant test lies at the $2,550–$2,650 resistance band. Ethereum has repeatedly failed to establish a foothold above $2,500. A decisive breakout above this zone could open a path toward $2,700 and potentially $3,000.

    Q3 Bullish Structure Remains Intact

    As of now, Ethereum’s third-quarter turnaround remains substantial. The broader bullish structure formed during the quarter stays intact as long as ETH holds within the $2,350–$2,400 support range.

  • ETH Price Eyes 35% Upside in September

    ETH Price Eyes 35% Upside in September

    Ethereum Price Analysis: ETH Breaks Out but Faces Critical Supply Zone Test

    Ethereum has traveled a significant distance from June’s $1,510 support level, where a double-bottom pattern initially formed. The subsequent rebound proved gradual, with the token contending with the pattern’s neckline from mid-July through mid-August. A decisive breakout finally arrived in late August, propelling ETH to $2,535.

    Technical Structure Shifts Bullish with Golden Cross Formation

    The chart now presents a cleaner bullish structure. A golden cross has formed between the 50-day and 200-day exponential moving average (EMA) bands, representing an important technical shift that could underpin a longer-term rally provided follow-up demand materializes.

    That conditional demand remains pivotal because ETH is currently wrestling with the $2,383–$2,495 range, which has functioned as supply. Should the price sustain above this zone and flip it into demand, September could become particularly interesting, with $2,791 and $3,381 standing as the next major upside targets. Conversely, losing the range would considerably weaken the setup, potentially sending ETH back toward the 200-day EMA near $2,150.

    Exchange Balance Data Reveals Accumulation Trend

    Beyond the chart, an unusual dynamic is unfolding. Ethereum exchange balances have declined from approximately 7.69 million coins on June 3 to roughly 6.28 million on August 27, an 18% reduction. The withdrawal trend did not pause during the rally; an additional 275,000 ETH left exchanges after August 19, pushing balances to their lowest point of the period.

    The timing is noteworthy because ETH has gained roughly 27% since August 16, meaning the exchange drain continued while prices were rising rather than falling. Meanwhile, Bitcoin exchange balances moved in the opposite direction, increasing approximately 0.25% over the same 12-week window.

    Mixed Indicator Signals Show Strength Alongside Exhaustion Risks

    The technical picture is not entirely one-sided. The Moving Average Convergence Divergence (MACD) is rising, the Awesome Oscillator (AO) histogram is improving, and the golden cross confirms strengthening bullish pressure.

    However, the Relative Strength Index (RSI) at 78.05 signals overheated conditions, while the Chaikin Money Flow (CMF) around 0.33 sits near a peak. These readings suggest the rally may require a cooling-off period before another sustained move higher.

    Key Level to Watch: $2,383–$2,495 Zone Dictates Next Direction

    For ETH price action, everything now hinges on the $2,383–$2,495 zone. Holding this area as demand emerges could open the path toward $2,791 followed by $3,381. Under bullish continuation these levels come into focus, but losing the range would collapse the price toward the 200-day EMA aligning near $2,150.