Ethereum Price Forms an Ascending Triangle Below $2,533

Ethereum held its price near $2,500 in August as buyers defended their gains since the breakout of mid-August. But an overbought monthly reading, and a dense grouping of leveraged positions at $2,550, left ETH with a critical resistance test.

Inflation in the US is rising, which limits Ethereum’s growth.

According to crypto.news data, Ethereum (ETHThe price of ETH opened on August 26 at $2442.49 before rising to $2,500 in the following two days. ETH is trading at around $2,500, close to the top of its range for the last three days.

Initial reactions to the US inflation data had triggered a recovery. Bureau of Economic Analysis said The headline inflation rate for personal consumption expenditures rose 3.7% annually and 0.2% monthly in July.

Reuters polled economists to estimate the growth rate of 3.6%. The actual annual number was higher than that. The core PCE (excluding food and energy) matched expectations at 0.2% per month and 3.3% annually.

Market implied probabilities of a Federal Reserve interest rate rise in September rose to 44%, from 36%. Reuters reported. The expectation of higher interest rates can affect speculative assets, because it increases the attractiveness of investments that pay an income and tightens financial conditions.

ETH avoided a more severe reversal despite falling to $2,430 in August. The market was flooded with buyers below $2,500. This allowed the tokens to maintain most of their gains that started near $1.870 mid-August.

It is believed that the US Treasury expanded its debt-buyback program. Treasury said It will begin Sept. 9 increase the size of maximum liquidity support operations for securities between 10-to-30 years from $2 billion up to $4 billion.

It is not intended to directly fund crypto markets, but rather support Treasury market liquidity. Its impact on ETH depends therefore on the bond yields, dollar and broader appetite for risk.

Ethereum Price Forms an Ascending Triangle Below $2,533

On the 4-hour USDT/ETH chart, Ethereum forms an ascending triangle following its swift move below $1950. The price has tested the horizontal resistance at $2,533 repeatedly while forming a series of higher lows.

When the volume is higher, an ascending triangle favors buyers. The confirmation of a move above $2,533 will clear the $2,550 area where ETH faces several rejections.

Aroon Up stood at 57.14% compared to Aroon Down of 21.43%. This gap indicates that recent lows have a greater influence than recent highs. However, the Aroon Up indicator has decreased from its earlier readings.

Chaikin money flow remained at 0.06. This reading indicates modest net purchasing pressure but does not reflect the strong inflows that are usually associated with an important breakout.

Daan Crypto Trades is a crypto trader. said In an Aug. 28, X, ETH posted that it had produced a “solid breakout” It also established a high higher on the chart. He warned that the new market structure would be undermined if the return fell below the old range, which was around $2300.

If the 4-hour closing price is above $2.533, it will strengthen the triangle and bring $2.600 into view. In the event that ETH does not clear this barrier, the price could be sent back to the rising trendline. This line is near $2470, and it moves upwards over time.

The Daily RSI alerts Ethereum to possible overheating

On the daily chart, ETH is trading at or above $2.453.95, which represents 50% Fibonacci retracement. The support level can be measured as a distance between the December high at $3,399, and the June low around $1,509; it is now the closest major resistance.

Fibonacci’s next barrier is at $2677.04. Breaking above that level could create a route to the 23.6% Retracement Level at $2.953.07 as well as the psychological $3,000 barrier.

Ted Pillows identified the $2,550 area as an immediate support zone. In an Aug. 28 post, he said a weekly close above the level could support a move toward $3,000, while repeated rejection could expose the $2,000–$2,100 region.

Momentum indicators continue to be bullish and stretched. Relative Strength Index for the day was 77.4, which is above 70, a level that’s commonly used as a measure of overbought condition. The RSI’s moving average fell to 72.42.

Moving Average Convergence Divergence remained positive with its MACD signal line still above it. The shrinking histogram indicates that the upward momentum is beginning to slow as ETH reaches resistance.

Overbought RSI doesn’t guarantee a rapid decline. This indicates that prices are more susceptible to declines if the buyers do not produce a breakout.

ETH liquidity map shows $2,550, $2,470 and more.

CoinGlass’ three-day liquidation heatmap reveals leveraged positions on both sides Ethereum’s value.

The nearest concentration above ETH lies around $2,540–$2,550, aligning with the horizontal resistance visible on the 4-hour chart. There is additional liquidity between $2,570 and $ 2,600.

If the price moves above $2,550, short sellers may be forced to exit their positions. This could add market orders, and accelerate the push towards higher clusters. Technical breakouts would need confirmation, as a quick sweep of leveraged position can quickly reverse.

Below the market, the closest liquidation concentration sits around $2,470–$2,480. A larger and brighter pool appears near $2,410–$2,420, making that region a possible downside target if ETH loses the 50% Fibonacci support at $2,454.

US spot Ethereum Exchange-Traded Funds present a mixed picture in the near term. These products registered about $192 in net flows on August 26, but SoSoValue data During the next session, net flows of approximately $11.4 million were recorded.

Ethereum’s future move is therefore based on a small technical range. A confirmed close above $2,533–$2,550 would favor an extension toward $2,600 and $2,677, while a loss of $2,454 would expose $2,410 and potentially the former breakout area around $2,300.