Ethereum Holds Ground at $2,500 Amid Bullish Sentiment

Ethereum's price held above $2,500 on August 27, buoyed by strong US spot ETF inflows and a historic short squeeze. The token rose about 7.8% from its August 21 opening price to trade near $2,507.

The move followed a sharp breakout from the $1,875, $1,950 range that had contained Ethereum for much of August. Buyers pushed the price above its February-to-May resistance area and have so far prevented a deeper return to the former range.

Analyst Daan Crypto Trades noted that ETH was consolidating above its previous resistance but needed to extend the rally soon to avoid falling back below the breakout level, otherwise risking a liquidity grab. A weekly close above $2,550 would confirm that buyers retained control after the short squeeze.