Ethereum price traded near $2,455 on Aug. 31 after buyers again failed to hold the price above $2,500, leaving ETH confined between major resistance and support near $2,400.
Summary
- Ethereum price slipped about 1% from its Aug. 25 opening price despite retaining a 28% monthly gain.
- The daily RSI cooled to 68.34 after moving above 70 during the August rally.
- Liquidation clusters sit near $2,545–$2,575, while leveraged positions also gather around $2,390–$2,410.
- A break above $2,550 could expose $2,650, but losing $2,400 would weaken the recovery.
Ethereum price action today
According to data from crypto.news, Ethereum (ETH) price opened the week at $2,481.78 before reaching an intraday high of $2,564.27 on Aug. 27. Sellers rejected the move, and ETH traded near $2,455 at the time of writing on Aug. 31.
The pullback placed the token about 1% below its weekly opening level. However, ETH remained up roughly 28% over 30 days after recovering from below $1,900 earlier in August.
The daily chart shows that the recovery accelerated around Aug. 19, when ETH broke above a group of long-term moving averages near $1,900–$2,050. The price then climbed more than 30% in several sessions before entering consolidation.
ETH has since traded mainly between approximately $2,390 and $2,550. Repeated upper wicks near the top of the range show that buyers have tested the resistance several times without securing a sustained daily close above it.
The latest daily candle recovered from a low near $2,401, suggesting that buyers are still defending the lower end of the range. However, the price must reclaim $2,500 before it can challenge the Aug. 27 high again.
Momentum cools after the August rally
Ethereum’s daily relative strength index stood at 68.34, down from levels above 70. The reading remains close to overbought territory but shows that momentum has eased as the price struggles below $2,550.
The RSI’s moving average was higher at 75.33. An RSI move below its average after an overbought reading can accompany consolidation or a deeper pullback, although it does not determine the next price direction by itself.
ETH continues to trade above all five moving averages shown on the daily chart. The 20-day simple moving average sits at $2,246.73, making it the first major dynamic support if the current range breaks down.
The 50-day and 200-day averages stand at $2,031.57 and $2,026.20, respectively. Contrary to the earlier death-cross concern, the latest chart shows the 50-day average slightly above the 200-day line. The narrow gap means the longer-term trend has improved, but the signal has little room to absorb a sharp reversal.
The 100-day moving average sits near $1,897.27. ETH’s position well above that level reflects the strength of the August recovery, although the distance between price and its moving averages also leaves room for mean reversion.
Ethereum faces liquidity near $2,550
The 4-hour chart places ETH inside a horizontal range extending from around $2,390 to $2,550. Price has tested both sides since Aug. 21 without producing a confirmed breakout.
Short-term momentum remains mixed. The Aroon Down reading stood at 71.43%, compared with 64.29% for Aroon Up, showing a slight bearish advantage after the latest rejection. However, both readings remain elevated, which is consistent with volatile price movement inside the range rather than a clear directional trend.
Chaikin Money Flow stood at minus 0.07 on the 4-hour chart. The negative reading points to mild net selling pressure, but its proximity to zero suggests that sellers have not established strong control.
The one-week CoinGlass liquidation heatmap shows a dense concentration of leveraged positions around $2,545–$2,550, followed by another liquidity band near $2,570–$2,580. A move into either area could trigger short liquidations, but the same zones may also attract renewed selling.
On the downside, visible liquidation concentrations sit near $2,410 and $2,390. A break below $2,400 could therefore force leveraged long positions to close and increase short-term volatility.
Key ETH levels to watch
A daily close above $2,550 would invalidate the upper boundary of the current range and clear the way for a test of the liquidation zone near $2,575. The next wider resistance area sits near $2,650, according to the price structure shared by market analyst Ted Pillows.
Pillows said ETH had tried and failed to break $2,550 again. He expects further range-bound trading and “a small capitulation before reversal,” while his chart identifies approximately $2,250 as the first deeper support.
The immediate downside level remains $2,400. A 4-hour or daily close beneath it would shift attention toward the 20-day moving average near $2,247, which closely matches Pillows’ first support zone.
If that area fails, the 50-day and 200-day moving averages around $2,030 form the next major support cluster. A drop that deep would erase much of the late-August breakout and weaken the current recovery structure.
The bullish setup requires ETH to defend $2,400, reclaim $2,500 and close above $2,550. The bearish setup would gain strength below $2,400, with $2,247 and $2,030 serving as the main lower targets.
US policy remains a market catalyst
Market analyst Michaël van de Poppe said the ETH-to-Bitcoin pair was moving sideways near what he considered a potential entry zone. He expects ETH to outperform Bitcoin in the coming month based on his forecast that the CLARITY Act will receive approval.
However, the legislation had not been enacted as of Aug. 31. An Aug. 5 regulatory filing said the bill passed the House in July 2025 and advanced through the Senate Banking Committee in May 2026, but negotiations remained ongoing, and its prospects were uncertain.
US spot Ethereum ETF flows provide another measure of institutional demand. U.S. spot Ethereum ETFs recorded $815.7 million in net inflows across the five trading days from Aug. 24 to Aug. 28, according to data compiled by Farside Investors. BlackRock’s ETHA led the weekly intake with $567 million, while the ETF group posted its largest daily inflow of the week on Aug. 27 at $225.8 million.
ETH therefore enters September with its monthly recovery intact but short-term momentum fading. The next confirmed move depends on whether buyers can clear $2,550 or sellers can break the support and liquidation zone around $2,400.
Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only.
