Ethereum Price Holds Firm Near $2,500 as Analyst Sees $3K Potential
The Ethereum price has held steady near $2,500 after breaking out of its August consolidation range. The token's value continued to consolidate around this level following a sharp recovery from mid-August. According to analyst Crypto Patel, this pattern is similar to previous post-Bitcoin-halving cycles, with ETH currently in an accumulation phase.
US spot Ethereum ETFs attracted about $697.2 million during the week ending August 21, marking their strongest weekly inflow performance of 2026. This influx of funds has provided additional support for the spot market after ETH recovered from its August consolidation. Additionally, nearly $3 billion in leveraged crypto positions faced liquidation within 24 hours, with short positions accounting for about 92% of the total.
ETH faces resistance near $2,550-$2,560, with a sustained breakout potentially opening a move toward $3,000. The four-hour chart shows ETH trading above the Bollinger Band midpoint near $2,477, with the upper band sitting around $2,514 and the lower band at $2,441.