Ethereum Price Soars to Best Week Since May 2025, But Can It Break $2,500?
Ethereum's price has surged by over 30% since August 19, nearing the key resistance level of $2,500. Tom Lee and Bitmine made a notable purchase of 34,000 ETH between August 17 and August 21, citing similarities with previous rallies in July 2021 and May 2025.
Lee believes that macro conditions could support further gains, pointing to the looming $1 trillion in Treasury buybacks as a factor that could boost liquidity and demand for risk assets. The Ethereum funding rate on Binance has also reached its highest level in one year at 0.01, indicating improved risk appetite among traders.
On-chain data shows that ETH broke above its realized price of $2,306, while spot ETH ETFs recorded $1.06 billion in inflows in August 2026, the best month in 12 months. However, analyst Ash Crypto warns that a rejection at the current level could send ETH back to $1,900 or even $1,500.