Foreign media reports that Ethereum has rebounded significantly after hitting a low for the year in June, with the cumulative recovery in the third quarter exceeding 55%, showing performance close to its strongest third-quarter periods in history. The article suggests that the daily structure of ETH has improved compared to before, but the momentum for short-term buying is starting to slow down.
Rebound by more than 55% after the June low point
According to the data in the text, the low point of ETH in June was around $1,600, and the current price is about $2,492. After a rapid upward movement in August, the price broke through $2,000 and then rose to the range of $2,400 to $2,500.
The article mentions that before this round of increase, ETH had been consolidating in the range of $1,850 to $1,950 for several weeks. When the breakout occurred, trading volume also increased simultaneously, which was seen as a signal that propelled the market upward.
Prices have crossed above the main moving averages.
The text argues that Ethereum has once again moved above the main moving averages, and compared to its previous state of operating below these averages for a long time, there has been a clear improvement in the technical structure. The short-term moving averages are moving upward below the current price level, providing support.
- Current price is approximately $2,492.
- Low in June was around $1,600.
- Rebound from quarterly lows by more than 55%
Among them, the range of $2,350 to $2,400 is considered the near-term support area, while the longer-term moving average is roughly distributed between $2,180 and $2,250. The article states that as long as ETH remains above $2,350 to $2,400, the upward structure formed in the third quarter has not yet been broken.
$2,550 to $2,650 is the next challenge
However, the article also points out that there are signs of cooling in short-term momentum. During the breakout phase in August, RSI once entered an overbought zone, before falling back to the middle range in the 50s. This indicates that the previous overheated state has eased to some extent, but it also reflects that the pace of buying pressure is slowing down.
According to their judgment, the range of $2,550 to $2,650 will be the next key testing area for ETH. If the price effectively breaks through this range, it may further rise to $2,700, and even attempt to approach $3,000.
Overall, this review article suggests that Ethereum has completed a significant round of improvements in the third quarter, and the current focus has shifted from "whether there will be a rebound" to "whether it can stabilize and continue to break through upwards."
