Ethereum Reclaims Key Moving Averages Amid Q3 Recovery
Ethereum has recovered 55% in its third-quarter comeback after reclaiming major moving averages and maintaining support above $2,400. The cryptocurrency's price holds at around $2,492, indicating a change from earlier weakness.
Buyers drove Ethereum above $2,000 during August, ending weeks of consolidation between $1,850 and $1,950. Trading volume expanded during the breakout, strengthening the move as ETH advanced into the $2,400 to $2,500 range.
Ethereum retained those gains and consolidated between $2,400 and $2,550, showing stability that indicates sellers have not erased the August advance despite weaker momentum.
The price remains comfortably above its former breakout zone, preserving the bullish quarterly structure. Short-term moving averages now rise beneath ETH, creating immediate dynamic support between $2,350 and $2,400, while most longer-term averages remain clustered between $2,180 and $2,250, forming another important support region.
Ethereum's recovery remains technically intact as long as its price holds above the immediate support zone. However, reclaiming $2,650 is crucial for extending the recovery and confirming stronger demand across the market.