Ethereum Price Holds Firm at Over $2,370 Amid Leverage Risk

Ethereum's price held steady above $2,370 on August 21, despite a sharp rally that cleared prior resistance. The TradingView one-minute ETH/USD chart showed $2,376.1 at 04:04 UTC-4, keeping momentum positive while leverage data pointed to growing liquidation risk.

The derivatives activity expanded much faster than spot turnover, leaving Ethereum exposed to sharper intraday swings if leveraged traders exited together. CoinGlass data showed ETH trading near $2,334 during the session, with a 3.02% daily gain and a 23.82% seven-day advance, while Ethereum's market capitalization was near $283.06 billion.

CoinGecko historical data showed ETH closed at $1,877.74 on August 12, making the recent move above $2,300 a rapid repricing from mid-August levels. The TradingView chart placed buyers briefly pushing ETH toward $2,396 before the market retraced.