Ethereum soared 30%: Where is the next key price point?

Ethereum rebounded nearly 30% after investor sentiment fell to a three-month low, with the market focusing on the US$2465 and US$2900 barriers.

Ethereum has experienced a strong rebound in recent days. ETH rose more than 5% today, hitting $2420. With this round of gains, the cryptocurrency has rebounded by about 30% from a depressed mood a few days ago.

Sanitation data showed that before this rally, investor sentiment for Ethereum had fallen to its lowest point in three months. Now, as the rally kicks off, the market's focus turns to the key resistance levels that Ethereum needs to break through.

What happened before Ethereum rebounded?

According to Sand data, Ethereum's seven-day weighted average sentiment indicator fell to a three-month low on August 17 and moved into a negative range. Just two days later, ETH saw a sharp rise.

On August 18, Sanitation's Ethereum whale selling abnormal indicator was also triggered, with a single transaction involving approximately US$7.55 million. In the first two weeks, the signal appeared five times a week, indicating that selling pressure on Ethereum has weakened compared to before.

The number of ETH on the exchange also dropped to approximately 6.54 million, the lowest level in the same period. This phenomenon suggests that investors are continuing to withdraw assets from exchanges.

However, the reason for the rebound is not just low market sentiment. The U.S. Treasury's increased buybacks of long-term bonds and the subsequent massive short liquidations were broader market factors driving Ethereum's rise.

What is the first key resistance level for Ethereum?

Ethereum's recent rise has also led analysts to refocus on short-term goals. Michaël van de Poppe believes that as long as ETH remains above $2000, the rally will continue.

The prices that the analyst is focusing on in the short term are $2465 and $2900. But he also warned that Ethereum could experience a sideways consolidation or short-term correction after its recent sharp gains.

A higher ETH peak could be seen as a stronger signal of the end of the current downtrend.

A break above $4700 will open up higher target space

From the long-term trend of Ethereum,$4700 is a key resistance level. According to Crypto Patel's analysis, ETH has risen more than 55% since the accumulation zone around $1500.

Analysis points out that if it breaks through $4700, Ethereum may usher in a higher target of $10000,$15000 or even $20000. However, these are long-term scenarios and should not be regarded as exact price targets.

Axel Bitblaze also believes that Ethereum's current trend is similar to its past price structure. The analyst pointed out that after ETH bottomed around $1500 in April 2025, it remained below $1950 for several weeks before rising to $2400.

If a similar structure is formed, Ethereum may experience a sideways or short-term correction before embarking on a new round of gains.

What will Ethereum do next?

This round of rise in Ethereum occurred after low market sentiment. However, there are several key price points that will determine whether the rally can continue.

Focus on $2465 and $2900 in the short term, and focus on the $4700 resistance level in the long term. If ETH breaks through $4700, a more aggressive rise scenario may be put on the agenda.

Currently, maintaining Ethereum above $2000 is crucial to maintaining a bullish pattern. The potential correction after this round of rebound does not necessarily mean that the market's upward trend has completely reversed.

Ethereum ETF recorded US$220 million in capital inflows

Ethereum's rise was also accompanied by inflows of institutional funds. The U.S. spot Ethereum ETF recorded a net inflow of more than $220 million on August 20.

The day before, these ETFs also received a net inflow of approximately US$189 million. So far, these funds have recorded strong capital inflows for two consecutive days.

This trend in the ETF shows that institutional demand for Ethereum is also strengthening as it rises. However, when assessing the impact of ETF capital inflows on prices, it is also necessary to comprehensively consider the overall market trend and the liquidation of short positions.

This content is based on public market data and does not constitute investment advice. It is recommended that you conduct your own research.