Ethereum price rebounds as bulls target $1,960 breakout

Ethereum price climbed nearly 2% on Aug. 17, rebounding from the $1,872 area as buyers defended short-term support and pushed ETH above $1,900.

Ethereum price action today

According to data from crypto.news, Ethereum (ETH) price traded at approximately $1,908 at the time of writing, up 1.7% on the day. The token had moved between an intraday low of $1,872 and a high of $1,912, according to the Binance daily chart.

The recovery accelerated after ETH reclaimed the $1,890 area, which had limited price advances during the previous three sessions. Buyers then pushed the token through $1,900, although the move had not produced a confirmed break from its wider August range.

Ethereum has traded mostly between $1,850 and $1,960 since late July. Several attempts to clear the upper end of that range have failed, while pullbacks toward $1,850–$1,870 have continued to attract buyers.

The Aug. 17 bounce therefore represents another test of the range ceiling rather than a confirmed return to a broader uptrend. ETH remains roughly 47% below its price one year ago despite recovering from its June low near $1,530.

Whale staking and network research support sentiment

On-chain activity added to the positive tone after an unknown address transferred 32,400 ETH to the Beacon deposit contract, according to Whale Alert monitoring cited by Foresight News. The transaction was worth about $61.46 million, while Arkham data suggested that the address may be associated with Bitpanda.

Depositing ETH into the staking contract reduces the amount immediately available for spot trading, but one transaction alone does not prove that the owner bought the tokens during Monday’s rebound. Staked ETH can also return to circulation after passing through Ethereum’s withdrawal process.

Network development news provided another sentiment catalyst. Ethereum co-founder Vitalik Buterin pointed to Bitcoin’s Utreexo model as Ethereum researchers examine native UTXOs and recursive STARK proofs.

As crypto.news reported, the proposed approach could allow nodes to verify relevant data without storing the network’s entire state locally. The work remains a research direction rather than a scheduled Ethereum upgrade, but it addresses concerns about the cost and hardware requirements of running nodes.

Ethereum indicators favor buyers above $1,900

Ethereum’s 4-hour chart shows that short-term momentum has shifted in favor of buyers. ETH moved above the Bollinger Band midpoint at $1,884 and briefly crossed the upper band near $1,902.

A move above the upper band reflects stronger momentum, although it can also lead to a short-term pullback if buyers fail to hold the breakout. The immediate support area now sits between the $1,884 midpoint and the lower band near $1,868.

The 4-hour relative strength index rose to 63.66 from a signal average of 50.58. The reading remains below the overbought threshold of 70, leaving room for another advance, but it also shows that momentum has strengthened quickly from neutral levels.

The daily chart presents a more cautious picture. ETH is trading above its 20-day, 50-day, and 100-day simple moving averages, located near $1,889, $1,845, and $1,869, respectively. Holding above that group would preserve the recovery structure that has developed since June.

However, the 200-day moving average remains much higher at approximately $2,009. Ethereum would need to clear that level before its longer-term chart shifts more convincingly in favor of buyers.

The daily Chaikin Money Flow reading stood at minus 0.04. A negative reading indicates that selling pressure still slightly exceeds buying pressure, meaning the price rebound has not yet received strong confirmation from capital flows.

Liquidation heatmap puts $1,925 in focus

CoinGlass’ one-week Ethereum liquidation heatmap shows a large concentration of leveraged positions around $1,920–$1,930. The brightest liquidity band sits near $1,925, making it the nearest potential target if ETH maintains its position above $1,900.

A move through that area could force short sellers to close positions, adding market orders to the advance. Another visible liquidity cluster sits near $1,945–$1,950, which aligns with the upper boundary of Ethereum’s recent trading range.

Liquidity is also concentrated below the market. The strongest downside bands appear around $1,860 and $1,850. Losing the 4-hour support near $1,868 could draw ETH toward those levels as leveraged long positions face pressure.

Analyst Ted Pillows said Ethereum’s uptrend remains intact but identified $1,960 as the level required for stronger upside momentum. His chart placed the main breakout zone between approximately $1,945 and $1,960.

A confirmed close above $1,960 would open the path toward $2,030, followed by a wider resistance area around $2,190. The first target also sits close to the declining 200-day moving average, which could limit the initial breakout.

Pillows placed structural support around $1,820. A break below that level would weaken the series of higher lows formed since June and could expose the lower support near $1,713.

US macro conditions remain a risk for ETH

Ethereum’s recovery comes as US investors assess whether inflation data will allow the Federal Reserve to loosen monetary policy. Higher Treasury yields and a firm dollar can reduce demand for risk assets because investors receive more attractive returns from government debt.

Regulatory uncertainty also remains relevant. Citigroup cut its 12-month Ethereum forecast to $3,175 in March, citing stalled progress on US crypto market-structure legislation and weaker user activity. The bank said stablecoin and tokenization growth could support Ethereum usage, but warned that the window for passing legislation before the 2026 midterm elections was narrowing.

For now, Ethereum must hold above $1,884 and convert $1,925 into support to extend Monday’s rebound. A break above $1,960 would strengthen the bullish case, while rejection followed by a loss of $1,868 would put the $1,850 liquidity zone back in play.

Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only.