Ethereum Price Recovery: Bulls Eye $1,960 Breakout

Ethereum price surged nearly 2% on August 17, 2026, rebounding from the $1,872 level as buyers defended short-term support levels. As a result, ETH managed to rise above $1,900, reaching an intraday high of approximately $1,912.

Market Movement and Whale Activity

At the time of writing, Ethereum traded at about $1,908, reflecting a daily increase of 1.7%. The cryptocurrency witnessed fluctuations between a low of $1,872 and a high of $1,912 throughout the day. The rally gained momentum after Ethereum reclaimed the $1,890 area, which had previously restricted price advances over the past three sessions.

A notable whale transaction added to market optimism, with a transfer of 32,400 ETH, valued at approximately $61.46 million, to Ethereum’s staking contract. Although this transaction indicates significant interest, it does not confirm that the tokens were purchased during the recent price rebound.

Technical Indicators Favor the Bulls

Ethereum’s 4-hour chart signals a shift in momentum favoring buyers. The price briefly crossed the upper band of the Bollinger Bands, found near $1,902. Significant immediate support now lies between $1,884 and $1,868. The 4-hour relative strength index (RSI) rose to 63.66, indicating strengthened momentum, though it remains below the overbought threshold.

Conversely, the daily chart presents a more cautious outlook, with Ethereum trading above its 20, 50, and 100-day simple moving averages but still below the crucial 200-day moving average, which is approximately $2,009. To achieve a more bullish trend, Ethereum would need to break this resistance level.

Liquidation Zones and Upcoming Targets

The one-week liquidation heatmap indicates a concentration of leveraged positions between $1,920 and $1,930, with the brightest liquidity zone around $1,925. Successfully navigating through this area could compel short sellers to close their positions, adding volatility to the upward movement.

Analyst Ted Pillows emphasized that for Ethereum’s uptrend to gain further traction, breaking above $1,960 is essential. A confirmed close above this threshold could open up targets towards $2,030 and a broader resistance area around $2,190.

External Factors and Market Outlook

The backdrop of US macroeconomic conditions remains a challenge for Ethereum. Investors are closely monitoring inflation data that could influence the Federal Reserve’s monetary policy decisions. Higher Treasury yields and a strong dollar could diminish risk asset demand, as government debt offers more attractive returns.

In summary, Ethereum needs to hold above $1,884 and convert $1,925 into a support level to advance this rebound. A potential breakout above $1,960 could strengthen the bullish scenario. Conversely, a failure to maintain above $1,868 could revisit the $1,850 liquidity zone.