Ethereum has shown remarkable resilience, currently trading around $2,450 after recovering from a low of approximately $1,900. This impressive recovery signifies a 34% gain, with the price peaking at $2,545.88 on August 21 before settling into a range between $2,400 and $2,500.
This upward movement has sparked interest among traders and analysts alike, as Ethereum appears to have broken above a descending trendline that marked its previous decline. The former resistance zone of $2,400 to $2,450 is now reinforcing support, a development that analysts consider a positive indicator for prospective bullish momentum.
On the 4-hour chart, Ethereum is forming a bull flag, which is typically a bullish continuation pattern. A close above the $2,510 to $2,530 range would not only confirm this pattern but also bring the recent weekly high back into focus.
Analyst Ted Pillows highlighted on August 26 that Ethereum requires a weekly close above $2,550 to unlock the potential for a run towards the coveted $3,000 mark. This level is seen as the critical barrier for the next significant price movement.
Resistance and Supply Levels
On-chain data reveals the presence of whale sell walls stacked at $2,550 and $2,600, indicating a strong supply zone just above the current trading price. Conversely, a substantial buy wall near $2,400 is reinforcing technical support at this level.
Liquidation data from CoinGlass highlights that the heaviest short liquidation cluster exists around the $2,530 to $2,560 range. A price push into this territory could compel short positions to close, potentially adding buying pressure to Ethereum’s price.
Analyst Michaël van de Poppe suggested on August 26 that a buying opportunity may soon arise, particularly in the $2,300 to $2,400 support zone, indicating a favorable area for traders looking to capitalize on dips.
Trader Daan Crypto Trades noted on X that Ethereum is currently consolidating above its previous resistance. He cautioned that bulls need to push the price to new local highs soon, or risk falling back below that resistance level, which he referred to as a potential “liquidity grab.”
$ETH Consolidating on top of the previous resistance. But if you’re a bull I would want to see this moving further up soon.
Otherwise you risk deviating back below the resistance and for this to turn into a big liquidity grab.
So ideally the bulls push this to new local highs… https://t.co/aj6makJdkPpic.twitter.com/6nlDu1OhPD
— Daan Crypto Trades (@DaanCrypto) August 26, 2026
Weekly Structure and Higher Targets
The weekly chart indicates that Ethereum has reclaimed the $2,300 to $2,400 range following its recovery from lows around $1,500 to $1,600. Analysts at Rand Group have characterized this as a significant higher-timeframe development.
Maintaining a weekly close above $2,400 keeps the targets of $2,800 and $3,400 in the realm of possibility. The next technical target above the current price is identified at $2,823, based on higher-timeframe structure analysis.
Analyst Crypto Tony has also pointed out a possible retest of $2,420 before a further push towards the $2,630 to $2,650 range. Holding $2,420 would be key to sustaining momentum for that next upward movement.
Ethereum is looking strong. My plan. No entry yet. pic.twitter.com/MoE9aB1V42
— Crypto Tony (@CryptoTony__) August 25, 2026
As it stands, the daily RSI is at 75.59, surpassing the overbought threshold of 70, while the Supertrend indicator shows broader support at $2,158, about 14% below the current price. As traders remain watchful, the next moves in Ethereum will be crucial to determine its trajectory in the coming weeks.
