Ethereum Q3 Bounce Sets Stage for Further Growth
Ethereum is on its way to one of its strongest third quarters in history, according to recent data.
The cryptocurrency's price has recovered significantly from its June lows, rising over 55% from $1,600 to its current trading value of around $2,492.
This recovery marks a fundamental shift in the technical structure of Ethereum's daily chart, with the asset now comfortably above all major moving averages after previously trading below them.
The breakout in August saw Ethereum surge through $2,000 and reach the $2,400-$2,500 range, with a significant increase in trading volume coinciding with the move. The market has since consolidated between $2,400 and $2,550, which is positive as it remains above the previous breakout zone while absorbing the strong August advance.
The moving-average structure has also significantly improved, with short-term averages rising below the price and providing immediate dynamic support at around $2,350-$2,400. Longer-term averages fall between $2,180 and $2,250, which is a significant improvement from Ethereum's position earlier in 2026.
However, momentum may be slowing down, with the RSI declining towards the mid-50s after reaching overbought territory during the August breakout. This could indicate that buyers have lost some short-term momentum, but it also eliminates a large portion of the overheated state brought about by the initial rally.