Ethereum rose 40% in August, far outpacing Bitcoin

The price of ETH is holding steady around $2,463, while the nearest resistance level is at $2,470. Whether the uptrend continues or the market enters a correction will largely depend on this level, according to tradingview.com.

Finam: Growth Will Be Supported by Fed Policy Easing

Nikolay Dudchenko, an analyst at the Finam financial group, attributed the recent rise in ETH to changes in the quantitative easing program and the weakening of the U.S. dollar. According to him, these same factors had previously driven Bitcoin higher as well.

The expert identified the $2,470 level as a local hurdle for bulls. If buyers break through this level, the next target could be $2,800.

In the long term, the analyst sees the market maintaining positive asymmetry—the trend remains upward. According to Finam’s base-case scenario, the rally could continue.

Qwerty Analytics: A Correction Is Likely After Short Stops Are Tripped

Investor and author of the Qwerty Analytics channel, Sergey Gurdyumov, noted that in August, ETH outperformed even BTC, gaining nearly 40%. During this rally, the price triggered short sellers’ stop-loss orders and reached a monthly imbalance level, from which the expert expects a decline.