Ethereum Fails to Clear $2,550 Hurdle Again

Ethereum is holding above $2,500, but its price action lacks conviction compared to Bitcoin's surge yesterday. The asset trades at $2,517.8, up marginally from its previous close of $2,507.6, after reaching a high of $2,546.2 intraday and immediately reversing course.

The failed breakout attempt is the fourth time it has happened in two weeks, with Ethereum struggling to clear the $2,550 level. This resistance is not just psychological, but also technical, as it coincides with the 50-week moving average at $2,542.

Despite this hurdle, the underlying structure of Ethereum's price remains strong. The asset has gained 32.5% through August, driven by spot demand and shrinking leverage, which is a healthier foundation than most crypto rallies. Record ETF inflows and declining exchange reserves also support the recovery.