Ethereum price breaks through key moving average, pointing to US$2,000

Ethereum prices rebounded above $1900 as ETF inflows and improved short-term momentum drove resistance tests.

On Friday, Ethereum prices traded around $1918 after recovering the $1900 mark. The inflow of cash ETF funds and the improvement of short-term momentum have jointly pushed prices to challenge the upper resistance level again.

Summary

Ethereum prices remain above US$1900, turning this psychological barrier into short-term support. The U.S. spot Ethereum ETF recorded a net inflow of US$92.15 million on August 6. The 4-hour Relative Strength Index rose to 61.74, showing bullish momentum but not yet entering overbought territory. Liquidity clusters near $1925 and $1950 may push prices further upward, while $1850 remains a key support level.

Today's Ethereum Price Trend

According to cryptocurrency news data, the current trading price of Ethereum is US$1,918.26, up 0.74% within the day. After oscillating around the opening price of $1904, the token hit an intraday high of $1,918.88.

This trend continued Ethereum's rebound from the $1850 region and kept its weekly gain above 4%. Buyers have held onto the $1840 to $1850 range multiple times since early August, preventing prices from pulling further back towards July lows.

Currently, prices have exceeded three key daily averages. Ethereum is above the 20-day moving average of $1,895.45, the 100-day moving average of $1,911.42 and the 50-day moving average of $1,796.09. This ranking improves the short-term outlook, but Ethereum is still below its 200-day moving average of $2,061.80. The gap suggests that the latest rally has not reversed a broader downward trend that began after prices topped $2400 in April.

The daily long-short power indicator has rebounded to the positive region of 32.07. The indicator showed that buyers had regained a slight advantage after a brief return of short pressure in early August.

The rebound in demand for U.S. -listed spot Ethereum exchange-traded funds provided a catalyst for the rise. These funds recorded a net inflow of approximately US$92.15 million on August 6, which is equivalent to approximately 48327 Ethereum units based on current market prices. Previously, the net inflow on August 5 was US$60.86 million, of which BlackRock's ETHA products contributed US$50.34 million. The cumulative net inflow of U.S. spot Ethereum ETF now exceeds US$11.4 billion. These products provide U.S. investors with regulated Ethereum exposure through traditional brokerage accounts, but their capital flows are not always reflected in price immediately or proportionately.

Weak U.S. employment data also boosted the overall risky asset background. According to ADP data, the private sector added 44,000 new jobs in July, lower than expectations of about 70,000 and lower than a revised 95,000 in June. Weak hiring data suggests a cooling in the labor market. However, annual wages are still growing by 4.4%, and unemployment benefits applications are still at historically low levels, creating uncertainty for the Fed's next interest rate decision. Any renewed interest rate hike expectations could weigh on Ethereum and other risky assets.

Ethereum clearing map points to $1950

Ethereum 4-hour chart shows that prices have exceeded the trend line threshold around $1,907.42. Holding this level will maintain the short-term bullish structure and provide buyers with the opportunity to hit recent highs again.

The 4-hour relative strength index was 61.74, which was higher than the signal average of 57.76. The momentum is therefore biased towards buyers, but the reading is still below the overbought threshold of 70.

The 3rd liquidation heat chart shows that there is an area of concentrated leveraged positions above the spot market price around US$1925. The larger liquidity band is in the $1945 to $1955 range. These pools could become short-term price magnets. A breakthrough of $1925 may trigger short sellers to be forced to buy and accelerate the move towards $1950. After breaking this level, the psychological barrier of $2000 will become the next target. Ethereum still needs to break past its daily 200-day moving average of around $2062 to confirm a clear bullish shift in the broader technical structure.

Liquidity is also accumulating below current prices. The recent downside areas have occurred in the $1890,$1870 and $1850 to $1860 range. Therefore, a loss of $1900 could expose Ethereum to the risk of liquidation of leveraged long positions in these regions. The 4-hour trend line support at $1,850.62 is the main bullish failure level. Continuing below this level will weaken the rally and could start a move towards $1800 or near the 50-day moving average of $1796.

Analysts see $2000 as the next test

Analyst Michaël van de Poppe said that if the broader market leaders start a new round of gains, Ethereum may outperform Bitcoin. "To be honest, if Bitcoin breaks through upwards, I think Ethereum will have a stronger breakthrough than Bitcoin. "His chart sets Ethereum's broader target around $2400, but Ethereum first needs to clear resistance around $2000 and its 200-day moving average.

Analyst Ted Pillows is also concerned about the psychological barrier of recovery and the possibility of short-term continuation. "Ethereum is still above $1900. Although the Clear Act vote was postponed, Ethereum still looks good. If Ethereum can hold on to this level, it may rebound to $2000. "

Currently,$1900 is a watershed between short-term bullish and bearish scenarios. A daily close above $1925 will strengthen expectations for $1950 and $2000, while a break below $1900 will turn attention back to $1850.