Ethereum's Price Recovery Gains Momentum as MA20 Reclaimed

Ethereum's price recovery continued in August, with the ETH/BTC pair reclaiming its monthly 20-period moving average on the chart shared by Ash Crypto.

The technical setup suggests that if the pair maintains the breakout and continues gaining against Bitcoin, a conditional upside target of 0.050 could be reached.

In August, Ethereum's price gained approximately 32.5%, extending the recovery that began in July.

The U.S. spot Ethereum ETFs attracted $1.85 billion during the month, while larger wallet cohorts increased their balances substantially.