Ethereum Breaks Above $2,500 on Strong US Demand and Institutional Support
Ethereum has reclaimed the $2,500 mark after several days of aggressive bullish momentum, strengthening its short-term market structure. On August 21st, the daily candle closed above a key supply zone, turning former resistance into an important level for buyers to defend.
Stronger U.S. demand, rising Fund Holdings, and lower system-wide leverage supported the breakout. The Coinbase Premium Index surged 60%, indicating stronger U.S. buying relative to other markets. Meanwhile, Fund Holdings reached a weekly high of 5.8 million $ETH, worth approximately $14.5 billion near the altcoin's $2,500 price.
The MVRV Z-Score stood at -1.012, leaving Ethereum below historically overheated valuation levels. This suggests that the rally has institutional demand without an extreme valuation.