Ethereum Surges Past Trendline as September Trading Begins

Ethereum (ETH) has broken through its descending trendline after printing its first higher high of this cycle, reaching $2,452 in September trading. The Fibonacci level at $2,438 now determines whether the August breakout survives.

The weekly chart shows Ethereum breaking through a trendline that had capped every rally since the August 2025 peak at $4,958. This move produced the first higher high of this cycle, which earlier breakout attempts failed to deliver.

Price is currently testing the 0.618 Fibonacci retracement at $2,438.85 as support. A weekly close above it opens the 0.5 retracement at $2,919.89 as the next objective, roughly 19% higher.

Analyst Ted Pillows notes that ETH tried to clear $2,550 and failed again, with the ceiling sitting on the 50-week moving average at $2,542. He expects more chop and a small capitulation before a genuine reversal.