The price of Ethereum is back to US$1900. Can bulls break the 2000 mark next?

Ethereum prices rebounded above US$1900 on August 6. The recovery of spot buying and short liquidations helped bulls hold on to the latest rally.

Market Overview

As of Thursday, Ethereum prices were trading around US$1908, hitting an intraday high of US$1920. The daily chart shows that the next major resistance level is at $1965, followed by the $2000 mark. The supertrend support level on the 4-hour chart has risen to $1842, and the short-term structure remains bullish. Clearing clusters near $1925 to $1950 may accelerate breakthroughs or trigger a new round of correction.

Ethereum's price stands firm at US$1900

According to online data, Ethereum was trading at approximately US$1908 at the time of writing, rebounding from an intraday low of around US$1895. After several days of consolidation, the price once again stood at the psychological barrier of $1900. The rally was accompanied by aggressive spot buying and put pressure on traders betting on further declines. Short positions near the price break appear to have fueled rapid gains, but have not yet exceeded recent swing highs.

Daily price movements show that Ethereum is building a bottom above the 38.2% Fibonacci retracement level of US$1,856.62. The level is based on a range from a June low of $1,505.42 to an April high of $2,424.78. Since mid-July, Ethereum has held on to $1856 multiple times, indicating that buyers remain active during the pullback. However, it is difficult for prices to rise further in the US$1920 to US$1965 region. Repeated defense of the support level and continuous suppression of the resistance level have formed a consolidation range of approximately $1856 to $1965. Any party confirming a breakthrough may determine the next major trend of Ethereum.

momentum supports bulls but reveals fatigue

The daily Aroon indicator continues to bias buyers. Aroon Up reported 64.29%, while Aroon Down reported 28.57%. This difference suggests that recent highs have had a greater impact on current trends than recent lows, supporting the view that Ethereum is still in the midst of a broader recovery, although it failed to exceed $2000. The Awesome Oscillator is also positive at 23.53, and a reading above zero usually means that short-term momentum is stronger than long-term momentum. However, the green bar chart is beginning to contract, indicating that bullish momentum is weakening as prices approach resistance. As a result, buyers may need to increase volume or another round of liquidation-driven markets to maintain a breakthrough.

The 4-hour chart provides a more constructive signal. Ethereum remains above the supertrend support level of $1,842.44, and the indicator continues to show a bullish trend. Chaikin's flow of funds is 0.07, back above the zero line, a positive value indicating moderate net buying pressure, but not yet high enough to confirm overwhelming demand. Taken together, these indicators show that bulls still control the short-term structure, but the market has not yet generated the momentum needed to break through $1965.

Liquidation level may determine the next trend

According to the liquidation heat map, there are multiple leverage clusters near the current price of Ethereum. Recent upside liquidity has occurred between approximately $1925 and $1950. Prices entering this area could force short positions to close, increasing market orders and potentially accelerating Ethereum's move towards $1965. This level is also the 50% Fibonacci retracement level on the daily chart, which is below $2000, making the $1950 to $1965 range a major test for this round of rebound. A daily close above $1965 would strengthen bullish arguments and expose the $2000 mark. If the buyer breaks through this psychological barrier at the same time, the next Fibonacci resistance is at $2,073.58.

The thermal map also shows considerable flow below. The nearest major dense areas are located around $1870 and between $1850 and $1860. If Ethereum loses $1900, these areas could attract prices. The $1856 level is particularly important because it combines Fibonacci support with an intensive clearing area. A break below this level could extend to four-hour supertrend support of $1842. Losing these two levels would weaken the rebound and bring the lower-liquidity area around $1800 back into focus.

Can Ethereum bulls push prices to $2000?

Analyst Ted Pillows said in an August 6 post that Ethereum must hold on to the latest breakthrough before trying to rise again. "Ethereum has regained the $1900 level. You need to hold this position to rebound towards $2000." The chart generally supports this conditional outlook. Holding on to $1900 will prepare Ethereum to challenge short-term clearing clusters of $1925 to $1950 and Fibonacci resistance of $1965. A four-hour or daily closing price above $1965 will provide stronger confirmation for buyers to test $2000. Prior to this, Ethereum remained in the resistance zone that has blocked gains many times since mid-July.

For U.S. traders, broader risk appetite may also affect trends. Ethereum remains sensitive to changes in Wall Street technology stocks and expectations from the Federal Reserve's September meeting. If policy tightening expectations increase, it may suppress speculative assets; while improving stock market sentiment may support Ethereum to break through again. Therefore, the bullish pattern depends on three conditions: Ethereum must hold on to $1900, clear leverage above $1925, and break through the Fibonacci level of $1965. If you fail to hold $1856, you will directly negate the $2000 target and expose the support of $1842.