Ethereum Reclaims $1,900 Amid Bullish Divergence and Smart Money Buys

Ethereum's price has recovered above $1,900 after buyers absorbed another move towards the lower end of its recent trading range. The price remains close to a major resistance area that has repeatedly limited upside momentum.

The Relative Strength Index formed a higher low while Ethereum price held above its recent lows, indicating a bullish divergence. This suggests that downside momentum was weakening even as Ethereum price continued testing support.

Arthur Hayes reportedly purchased another $6.39 million worth of Ethereum, bringing his total accumulation since July 15 to approximately 7,213 ETH at an average price of $1,923. A sustained move above $1,923 would place the position back around break-even and could improve sentiment around the latest accumulation.

The higher-timeframe Ethereum chart shows Ethereum price recovering towards the upper boundary of a broad descending channel that has guided price lower from previous cycle highs. Gordon identified $2,000 as the level that could confirm a more meaningful structural change.