Ethereum approaches 2025 record after soaring 60.6%

Ethereum Rally has pushed Ether to nearly 60.6% since July 1

Although the third quarter of 2025 has a stronger performance, the ranking until September 30 is still tentative. Ethereum (ETH) has risen 60.6% since July 1, setting the second-best third-quarter performance in history. It is currently only 5.93 percentage points short of the record set in 2025. The rebound in August further consolidated this trend, with prices moving towards the $2500 range.

Institutional buying provided strong support for demand, while part of the ETH held was locked in pledge contracts. The $2550 to $2650 area has become a key watershed in whether Ethereum can hit a new quarterly record.

The increase was 60.6% during the quarter

As of September 13, ETH prices were approximately US$2492, compared with approximately US$1550 at the beginning of the quarter. This 60.62% increase made the third quarter of this year the second-best performing third quarter in Ethereum history. However, the current record holder is still the third quarter of 2025, when the increase was as high as 66.55%. The gap between the two is only 5.93 percentage points. It should be noted that the current comparison cycle has not yet ended.

Key data shows close proximity to the record:

• Since July 1, ETH has increased by approximately 60.62%;
• The third-quarter record increase set in 2025 is 66.55%;
• The gap between the two performances is limited to 5.93 percentage points;
• The current quarter ends on September 30;
• A further increase of about 3.7% would break the record.

Indeed, at $2492, this final swing could push ETH to around $2584. To be precise, this level lies in the main resistance area identified by analysts.

It should be pointed out that this performance does not represent the absolute second best quarter in Ethereum history. In the early stages of blockchain development, multiple first and second quarters have recorded higher rebounds. As a result, this was only the second best third quarter performance.

August rally changes technical trends

Most of Ethereum's gains occurred in August. After weeks of consolidation in the $1850-$1950 range, ETH broke through the $2000 mark and quickly moved into the $2400-$2500 range. This progress has been accompanied by an increase in trading volume. Subsequently, the price did not automatically retract the increase, but stabilized between $2400 and $2550, thus absorbing some of the buying chips accumulated during the rise.

In addition, the technical structure has also been improved. According to the information provided, ETH is currently trading above its main moving average. Short-term moving averages are above prices and above, while various long-term indicators are between $2180 and $2250.

The first support area is located around US$2350 to US$2400. Maintaining this support is expected to retain the momentum established since July; if it breaks below, prices could fall back to long-term support.

Institutional purchases reduce available supply

During the quarter, corporate coffers consolidated their exposure to ether. Notably, NitMine held 5.9 million ETH units as of August 30, accounting for 4.9% of the circulating supply cited in its filing with the U.S. Securities and Exchange Commission.

The company has pledged 5.07 million ETH pieces. As a result, nearly 86% of positions were locked in to protect the Ethereum network and receive rewards. Such strategies reduce the number of tokens automatically available for sale, but do not guarantee an immediate increase in price.

BitMine President Tom Lee emphasized: "ETH is by far the best performing macro asset in the third quarter of 2026." However, his assessment should be considered in context, as the company has directly benefited from the rise in the price of ether.

Demand was supported by corporate acquisitions and capital inflows into investment products. Still, after rising more than 60% in less than three months, the trend could weaken if buying slows.

The $2650 resistance level will determine the fate of the record

This momentum is beginning to weaken. The RSI index was close to overbought territory during its gains in August, before falling back to around 55. This easing reduces the risk of overheating, but also suggests that buying is less aggressive.

The next resistance range is $2550 to $2650. If sustained breakthroughs can be achieved, ETH will exceed the theoretical level needed to beat performance in the third quarter of 2025, opening the way to $2700 or even $3000.

Conversely, a break below $2350 could weaken Ethereum's gains and reduce its quarterly performance. As a result, the $2584 level and the September 30 closing price will help determine whether second place can be retained this year or a new record can be set.