Ethereum showed fresh signs of strength on Aug. 17 as buyers stepped in near short-term support and pushed ETH back above the $1,900 level.
The cryptocurrency climbed nearly 2% during the session, rising from an intraday low near $1,872 to around $1,912. While the recovery has improved short-term momentum, Ethereum still faces several resistance levels before the broader trend can turn decisively bullish.
For now, traders are closely watching the $1,925 to $1,960 zone, where both technical resistance and liquidation liquidity could influence ETH’s next major move.
Ethereum Price Reclaims $1,900
Ethereum traded around $1,908 at the time of writing, up roughly 1.7% on the day.
ETH opened near $1,876 before falling toward $1,872. Buyers quickly defended the area and pushed the price higher, eventually reclaiming $1,890 and then the psychologically important $1,900 mark.
The move is encouraging for bulls, but it does not yet confirm a larger breakout.
Ethereum has spent much of the period since late July trading between approximately $1,850 and $1,960. Buyers have repeatedly appeared near the lower end of that range, while attempts to break above the upper boundary have struggled to hold.
This means the latest rebound is another challenge of the range ceiling rather than confirmation of a new long-term uptrend.
$1,960 Remains the Main Breakout Level
The $1,960 level has become particularly important for Ethereum.
A convincing move above this area could signal that buyers have finally broken through the resistance that has limited ETH’s recent recovery.
Until that happens, Ethereum remains vulnerable to another rejection inside its broader trading range.
If bulls successfully push through $1,960 and hold the level as support, attention could shift toward higher resistance areas around $2,000 and $2,030.
However, Ethereum’s 200-day moving average remains another important barrier near $2,009.
Clearing both $1,960 and the 200-day average would significantly strengthen the bullish technical outlook.
Whale Stakes 32,400 ETH
Ethereum’s rebound was accompanied by notable on-chain activity.
An unidentified address transferred approximately 32,400 ETH into Ethereum’s Beacon staking contract.
At the time of the transaction, the assets were worth roughly $61.46 million.
Staking removes ETH from immediately available spot-market supply because those tokens are committed to securing the Ethereum network.
Large staking deposits can therefore attract market attention because they may reduce short-term liquid supply.
However, a single staking transaction should not automatically be interpreted as direct buying pressure.
The ETH could have been accumulated earlier, transferred from another wallet, or moved as part of a broader institutional strategy.
Blockchain data reportedly suggested that the address may have links to Bitpanda, although the transaction alone does not confirm its ultimate purpose.
Ethereum Development News Supports Sentiment
Ethereum also received attention from ongoing network research.
Ethereum co-founder Vitalik Buterin recently highlighted concepts inspired by Bitcoin’s Utreexo model as Ethereum researchers investigate approaches involving native UTXOs and recursive STARK proofs.
The broader goal is to reduce the amount of data that individual nodes must store while still allowing them to verify relevant network information.
If successful, such technologies could potentially lower hardware requirements and make running Ethereum infrastructure more efficient.
However, the work remains part of ongoing research and should not be interpreted as a confirmed or scheduled Ethereum upgrade.
Even so, continued development around scalability and node efficiency can help support long-term sentiment around the network.
Ethereum’s 4-Hour Momentum Turns Bullish
Ethereum’s 4-hour chart currently provides one of the more positive technical signals.
ETH moved above the midpoint of its Bollinger Bands near $1,884 and briefly traded beyond the upper band around $1,902.
Moving above the upper Bollinger Band can indicate strong buying momentum.
At the same time, such moves can sometimes lead to short-term pullbacks if the price becomes overextended and buyers fail to maintain pressure.
For ETH, the immediate support region now sits around $1,884, followed by another level near $1,868.
As long as Ethereum remains above this area, the current short-term recovery structure remains intact.
RSI Shows Strength Without Reaching Overbought Territory
Ethereum’s 4-hour Relative Strength Index has also improved.
The RSI climbed to approximately 63.66, compared with a signal average near 50.58.
An RSI reading above 50 generally indicates strengthening bullish momentum.
At 63.66, Ethereum remains below the commonly watched overbought level of 70.
This suggests the price could still have room to rise if buying pressure continues.
However, the rapid improvement also means traders will be watching closely for signs that momentum is becoming stretched.
Daily Chart Still Shows Long-Term Resistance
Ethereum’s daily chart is less bullish than the shorter-term picture.
ETH is currently trading above several important moving averages, including its:
- 20-day moving average near $1,889
- 50-day moving average near $1,845
- 100-day moving average near $1,869
Holding above these levels supports the recovery structure that has been developing since Ethereum’s June lows.
However, the 200-day moving average remains near $2,009, well above the current market price.
The 200-day average is widely used as a longer-term trend indicator.
As long as ETH remains below this level, the broader technical picture cannot yet be considered fully bullish.
Capital Flows Have Not Confirmed the Rally
Another point of caution comes from Ethereum’s daily Chaikin Money Flow indicator.
The CMF reading stood near -0.04.
A negative reading suggests that selling pressure is still slightly stronger than buying pressure over the indicator’s measurement period.
This does not necessarily mean Ethereum’s rebound will fail, but it shows that the move has not yet been strongly supported by capital inflows.
For a more convincing recovery, bulls would ideally want to see ETH continue higher while Chaikin Money Flow moves back into positive territory.
That would suggest stronger accumulation rather than a short-lived technical bounce.
$1,925 Becomes the Next Liquidity Target
Liquidation data shows why the area just above Ethereum’s current price could become important.
A one-week ETH liquidation heatmap shows a concentration of leveraged positions around $1,920 to $1,930, with a particularly strong liquidity pocket near $1,925.
If Ethereum continues moving higher and crosses this area, short positions could be forced to close.
Those liquidations can create additional market buying, potentially accelerating the move upward.
A second notable liquidity cluster sits around $1,945 to $1,950.
This area also overlaps with the upper end of Ethereum’s recent trading range, making it an important resistance zone.
Short Liquidations Could Fuel an ETH Breakout
If Ethereum pushes above $1,925, liquidations of bearish positions could provide additional momentum.
The next significant challenge would then sit near $1,945 to $1,960.
A sustained break through this region could potentially trigger more buying as traders react to confirmation that Ethereum has moved beyond its recent range.
Technical analyst Ted Pillows identified approximately $1,960 as the key level required for stronger bullish momentum.
According to this outlook, a confirmed breakout above $1,960 could open the door to a move toward approximately $2,030.
Beyond that, a larger resistance region could emerge near $2,190.
These targets remain conditional and depend on Ethereum first proving that it can break and hold above the current resistance zone.
Downside Liquidity Remains Near $1,850
Ethereum is also surrounded by important liquidity below its current price.
The strongest downside concentrations appear near $1,860 and $1,850.
If ETH loses support around $1,868, leveraged long positions could come under pressure.
That could pull the price back toward the lower part of its recent trading range.
The $1,850 region has repeatedly attracted buyers, making it an important support level.
However, continued tests of the same support can eventually weaken it.
A decisive move below $1,850 would therefore increase bearish risk.
$1,820 Is a Key Structural Support
Another important technical level sits around $1,820.
This area has been identified as a structural support level because Ethereum has formed a series of higher lows since its June decline.
If ETH falls below $1,820, that improving structure would begin to weaken.
A deeper decline could then expose support closer to approximately $1,713.
For bulls, avoiding a breakdown below $1,820 is therefore important if the broader recovery from June is to remain intact.
US Macroeconomic Conditions Could Still Pressure Ethereum
Ethereum’s technical recovery is occurring against an uncertain macroeconomic backdrop.
Investors are closely watching U.S. inflation data and expectations around future Federal Reserve policy.
Higher Treasury yields and a stronger U.S. dollar can make cryptocurrencies and other risk assets less attractive because investors can receive higher returns from comparatively safer government debt.
If inflation remains elevated and the Federal Reserve keeps monetary policy restrictive, cryptocurrencies such as Ethereum could face renewed pressure.
On the other hand, expectations of lower interest rates could improve risk appetite and provide additional support for the crypto market.
Regulation Could Also Influence ETH Sentiment
Regulatory developments remain another factor for Ethereum.
Ethereum plays a major role in stablecoins, decentralized finance, tokenization, and other blockchain-based financial applications.
Progress on U.S. crypto market-structure legislation could therefore have a meaningful impact on long-term network usage and investor sentiment.
Citigroup previously lowered its 12-month Ethereum forecast to approximately $3,175, pointing to weaker user activity and slower progress on U.S. crypto legislation.
The bank also acknowledged that continued growth in stablecoins and tokenized assets could support Ethereum usage.
This creates a mixed fundamental environment in which Ethereum’s network continues to develop even as macroeconomic and regulatory uncertainty remains.
What Comes Next for Ethereum Price?
Ethereum’s immediate outlook now depends heavily on whether bulls can maintain control above $1,900.
The first major upside level to watch is around $1,925.
If ETH converts that area into support, buyers could target the $1,945 to $1,960 resistance zone.
A confirmed breakout above $1,960 would strengthen the bullish case and potentially open the door toward $2,000 and $2,030.
On the downside, $1,884 and $1,868 remain important short-term support levels.
A fall below $1,868 could bring the $1,850 liquidity zone back into focus, while a deeper break below $1,820 would weaken Ethereum’s broader recovery structure.
For now, Ethereum’s short-term momentum favors buyers, but the market still needs a decisive breakout above $1,960 before a stronger bullish trend can be confirmed.
Disclaimer: This article is for informational and educational purposes only and does not constitute financial or investment advice.
