Ethereum is showing impressive momentum, outpacing bitcoin: over August, the ETH price rose by about 40%, approaching a monthly imbalance around $2600. This zone previously became a point of sharp decline, leaving an unfilled gap that the market typically returns to. However, expert opinions on further movement are divided: some expect a continuation of the rally toward $2800, while others forecast a correction to $2250–1930.
At the time of analysis, ETH is trading near $2463, with the nearest resistance located at the $2470 mark. It is largely this level that will determine whether the uptrend persists or the market enters a correction.
Financial analysts: growth is supported by Fed policy easing
Specialists from the Finam financial group link Ethereum's recent rise to changes in the quantitative easing program and a weakening U.S. dollar. The same factors previously provided support to bitcoin as well. According to expert estimates, the $2470 mark remains a local obstacle for optimists — if buyers break through this level, the next target could be $2800. In the long term, analysts maintain a positive asymmetry, believing that the base scenario implies continued growth.
Qwerty Analytics: a correction is likely after collecting shorts
Investor and author of the Qwerty Analytics channel, Sergey Gurdyumov, notes that in August ETH performed even stronger than BTC, gaining almost 40%. During the move, the price collected stop orders from short sellers and reached the monthly imbalance, from where the expert expects a decline. At the same time, he allows for continued growth within the same range — from $2450 to $2780. In the ETH/BTC pair, a shift in dynamics is observed: since May 2025, Ethereum has been moving more confidently than the larger cryptocurrency.
Gurdyumov believes that a correction in ETH will be less deep than in BTC. He expects values around $2250–1930, where an inverted weekly imbalance is located — this zone will serve as support and a place to seek long positions. However, the expert does not rule out an extremely negative scenario either: the entire rally could turn out to be a bull trap, and prices could fall below the yearly lows. In that case, the market would face a deep depression, which would later create conditions for an even more aggressive rise. In any case, Gurdyumov advises accumulating spot positions on declines so as not to be left without assets in the event of an upward reversal.
Technical view: indicators are overheated
On the daily ETH/USD chart, oscillators point to overheating after a sharp surge. The stochastic is in the overbought zone with values of 85.31 and 88.49, while the RSI has risen to 69.15–73.19 — near the upper boundary, beyond which cooling typically follows. This picture aligns with correction expectations among several experts: after nearly a 40% rise, the market may need a pause. At the same time, holding the price above $2470 would confirm buyer strength and open the path to higher levels.
The key range remains $2400–2700: staying within it keeps chances alive for a continued rise, while a drop would strengthen the scenario of a deeper decline.
My view: Technical overheating and the unfilled imbalance are strong arguments in favor of a correction, but the macroeconomic backdrop and a weakening dollar could support the market. The strategy of accumulating on declines looks reasonable, but stop-losses should be placed below $2250 to protect against unexpected reversals.