Ethereum’s price rose nearly 2% on August 17, 2026, bringing the second-largest coin back to secure its footing above the $1,900 level.
The daily RSI indicator shows improving sentiment as it climbs to 56.5, crossing above the signal line at 53. This figure signals that buyer momentum is gaining strength, though the price is not yet near overbought territory. If buyers continue to push prices higher, this movement targets a nearby target area: a massive cluster of short liquidations concentrated around $1,925. This upside breakout scenario is also validated by traditional market analysts, with Tom Lee of Fundstrat sharing a similar technical analysis with his followers.
Three Layers of Walls Before Two Thousand
However, the road to a new price chapter is held back by three layers of resistance packed into a narrow price range. Buyers must push Ethereum through the daily Ichimoku Cloud line, cross the psychological threshold of $2,000, and then maintain the movement above the 200-day moving average.
The Ichimoku wall serves as a key trend indicator to watch for the short-term price future. Ethereum has not traded and settled above this daily cloud boundary since October 9, 2025. A sharp breakout past this area would be a valid technical signal for the birth of a new market trend.
Crypto analyst Michaël van de Poppe highlighted the daily chart’s record of consistently printing higher highs and higher lows, a pattern that makes the probability of an upward move greater than a quick drop scenario. However, he warned of a downside scenario. If Ethereum loses the $1,870 support level, long liquidity in the area below could potentially be wiped out, forcing the price down toward the $1,700 base level before finding room to bounce back.
Wall Street Money Moves Backward
While spot charts signal buying sentiment, the money flow of traditional stock investors is moving backward. SoSoValue tracking data shows that spot Ethereum ETFs in the United States suffered net outflows of $2.26 million over five consecutive trading days from August 10 to 14, 2026.
The largest withdrawal burden was recorded on BlackRock’s ETHA ETF, which saw outflows of up to $16.39 million in the same week. This data discrepancy confirms that Ethereum’s recent price resurgence is not yet supported by buying interest from Wall Street funding instruments.
For market traders and ETH holders, this weekend offers a contrasting reality between the potential for a chart breakout and the absence of large fund support - a condition that makes the $1,870 mark the line of defense most worth watching.
Reported from crypto.news.
Also read: How Crypto Staking Works and Its Risks
Disclaimer: This article is for informational and educational purposes only, not financial advice. Cryptocurrency assets are highly volatile and carry significant risk. Always do your own research (DYOR) and never invest more than you can afford to lose.
