ETH Sees Record-Breaking Q3 Growth as Momentum Slows

Ethereum's third quarter has been one of its strongest ever, with the cryptocurrency bouncing back from June lows to gain over 55% in value.

ETH was trading at around $2,492, a significant increase from its lowest point in June at $1,600. The recovery is also notable because Ethereum is now comfortably above all major moving averages after previously trading below them.

The August breakout saw ETH surge through $2,000 and reach the $2,400-$2,500 range, with a significant increase in trading volume coinciding with the move. Instead of giving up its gains right away, Ethereum has since consolidated between $2,400 and $2,550.

The moving-average structure has also improved, with short-term averages rising below the price and providing immediate dynamic support. However, there are indications that momentum is slowing down, with the RSI declining towards the mid-50s after soaring into overbought territory during the August breakout.