Key Moments
- Ethereum trades at $2,510 after reclaiming the $2,500 level amid rising stablecoin supply and ETF inflows.
- The stablecoin market cap has expanded by $4.1 billion in two weeks, alongside $1.18 billion of net inflows into US spot ETH ETFs over eight consecutive sessions.
- ETH is consolidating above key support around $2,430, with momentum indicators signaling stretched conditions.
Market Overview: ETH Reclaims the $2,500 Threshold
Ethereum (ETH) price today: $2,510
Ethereum moved back above the $2,500 mark on Thursday, supported by a pickup in stablecoin issuance and continued demand for US spot ETH exchange-traded funds (ETFs). The combination of fresh liquidity from stablecoins and persistent ETF buying has underpinned the latest leg of ETH’s advance, while price action stabilizes above a key support area around $2,430.
Stablecoin Supply Expansion Signals Fresh Crypto Liquidity
The aggregate stablecoin market capitalization has risen by approximately $4.1 billion over the last two weeks. Of that increase, $2.37 billion has been added in just the past seven days.
This two-week climb is the first such expansion since mid-May, a period that followed a nearly 30% drawdown in the broader crypto market after a short-lived bear-market rally. From mid-May through August 11, the stablecoin segment had seen a cumulative contraction of about $16.1 billion.
Rising stablecoin balances typically indicate that new capital is entering the digital asset space, giving market participants more firepower to allocate into cryptocurrencies such as Ethereum. Conversely, shrinking stablecoin supplies tend to reflect capital exiting the market, often after investors take profits or exit losing positions.
Spot ETH ETF Flows Reinforce Bullish Sentiment
Alongside native crypto inflows, interest from traditional market participants has strengthened. US spot ETH ETFs have attracted $1.18 billion in net inflows over eight consecutive trading days. According to SoSoValue data, this is their longest run of positive flows since April and the largest eight-day net intake since October.
US Spot ETH ETFs. Source: SoSoValue
Staking activity has also continued to build. The amount of staked ETH has risen to 42.4 million ETH, representing 34.7% of the total ETH supply, based on figures from Ultrasound Money.
Technical Landscape: ETH Holds a Constructive Bias Above Key Averages
Over the past 24 hours, Ethereum has seen $122.9 million in liquidations, with $77 million of that total coming from short positions, according to Coinglass.
On the daily timeframe, ETH maintains a bullish short-term structure, with the price trading comfortably above both long- and short-term Exponential Moving Averages (EMAs). This alignment supports a constructive technical backdrop.
However, momentum gauges are stretched. The 14-day Relative Strength Index (RSI) is in overbought territory near 77, while the Stochastic Oscillator (Stoch) is above 90. These readings suggest that, despite the solid underlying uptrend, the upside may be susceptible to a consolidation phase or corrective pullback.
Key Levels: Supports and Resistances in Focus
On the downside, the nearest support zone is located around the recent horizontal pivot at $2,432. Below that, additional support emerges from a cluster of short-term averages near $2,223, followed by the $2,172–$2,151 band. Further down, mid-range EMA supports are situated at $2,043 and $2,005.
| Level Type | Price Zone |
|---|---|
| Immediate support | $2,432 |
| Support cluster | $2,223 |
| Support band | $2,172–$2,151 |
| Mid-range EMA supports | $2,043 and $2,005 |
| Initial resistance | $2,744 |
| Higher resistance | $2,883 |
On the topside, ETH is facing its first resistance barrier at $2,744, with a more significant hurdle at $2,883. A decisive daily close above $2,744 would “open the way for a fresh leg higher.” Failure to break through these resistance levels would keep attention on whether buyers can continue to defend the layered support areas below $2,500.
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