Key Insights

• Ethereum gained about 30% in one week as ETH recovered toward $2,500.
• U.S. spot Ethereum ETFs attracted about $697 million from Aug. 17 through Aug. 21.
• ETH/BTC briefly reclaimed 0.03205, but the pair still needs to hold the breakout structure.

Ethereum extended its recovery toward $2,500 after gaining roughly 30% over the past week. ETH climbed from around $1,914 on Aug. 17 to approximately $2,499 on Aug. 24 as sentiment across the crypto market improved.

The rally coincided with Ethereum's strongest ETF inflows of 2026 and improving relative strength against Bitcoin. ETH, however, remains close to important resistance, and short-term momentum indicators show the rally has become increasingly stretched.

Ethereum Puts $2,700 in Focus Above Key Resistance

Ethereum traded above $2,500 after gaining about 30% over the past week. The advance placed ETH close to the $2,600 resistance level, which now stands between the current price and higher targets. A move above that level could bring $2,550 and $2,600 into focus before $2,700, and sustained volume could confirm strength above resistance.

Momentum data still shows strong demand, although short-term conditions have become tighter. The four-hour RSI stood near 66.74, close to the 70 threshold that technicians conventionally read as overbought on the 0-to-100 oscillator, while the latest chart showed a bearish MACD crossover. Those readings place more attention on price confirmation around $2,500 rather than momentum alone.

If sellers reject ETH near $2,600, the first support area sits around $2,350. A deeper pullback would place $2,300 under pressure, followed by $2,200. The $2,300-to-$2,500 range therefore defines the main short-term zone for the next directional move.

ETH/BTC Breakout Changes the Relative-Strength Structure

The ETH/BTC daily chart has moved above a multi-month descending structure. The pair is a widely watched gauge of capital rotation between the two largest crypto assets, with a rising ratio signaling Ethereum outperformance and a falling one pointing the other way. Crypto Patel marked 0.03205 as the breakout level after the pair printed a higher high. The chart also shows a break from the sequence of lower highs and lower lows that controlled the pair for months.

ETH/BTC traded near 0.03151 on the chart after reaching an intraday high around 0.03195. The next technical test sits below the breakout area. Crypto Patel identified 0.0270 to 0.0260 as the retest zone, where the pair would need to form a higher low to preserve the new structure. That level also aligns with the rising trendline.

The chart maps higher relative-strength targets near 0.040 and 0.050 if the pair holds the retest zone. It also marks a broader 0.060-to-0.070 range for a larger extension. A move back below the new structure would weaken the breakout setup.

Ethereum ETF Inflows Add Institutional Support

Spot Ethereum ETFs, which began trading in the United States in July 2024, recorded about $697 million in net inflows between August 17 and August 21. The funds give investors ETH price exposure through standard brokerage accounts rather than direct ownership of the token. Bitcoin ETFs attracted about $1.918 billion during the same period. Ethereum funds therefore drew a smaller absolute amount but a larger share relative to Ethereum's market capitalization.

Jiang Zhuoer noted that Ethereum's market value stood near 18.8% of Bitcoin's, while ETH ETF inflows reached about 36.4% of Bitcoin ETF inflows. The comparison points to stronger inflow intensity relative to market size during the week.

The inflows arrived while Ethereum outperformed Bitcoin on a percentage basis. Bitcoin traded near $77,000 during the period, while total crypto market capitalization rose to about $2.61 trillion. The combination of ETF demand and stronger ETH/BTC performance kept Ethereum at the center of the latest market rotation.

Ethereum Holds Support After Sharp Weekly Gain

Market sentiment has also moved into extreme greed. For the first time since December 2024, the Crypto Fear and Greed Index reached 81. The index condenses volatility, momentum, social-media volume, dominance, and trend data into a 0-to-100 score, with readings above 75 signaling extreme greed; the previous visit to that zone came in December 2024, a month when ETH traded above $4,000. That reading followed rapid gains across several large-cap assets, including Ethereum and XRP.

Ethereum now needs support to hold after the sharp weekly advance. Buyers have defended the $2,350-to-$2,300 area so far, while $2,500 remains the main resistance. A confirmed break above $2,500 would keep $2,700 in view, while a break below $2,300 would shift attention toward $2,200.

The ETH/BTC chart adds another level to monitor. Holding 0.0270 to 0.0260 on a retest would preserve the higher-low structure shown in the chart, and the daily ETF flow reports published by issuers provide the demand-side read that sits alongside those chart levels.