Ethereum climbed 1.95% on August 17, trading at $1,912 after buyers stepped in near the session low of $1,872. The move pushed ETH back above the psychological $1,900 level.
The price closed above its 20-day, 50-day, and 100-day simple moving averages, sitting at $1,889, $1,845, and $1,869 respectively. This keeps the short-term structure intact for buyers.
The daily RSI reached 56.5, above its signal average of 53. That puts momentum in buyer territory, though it remains far from overbought levels.
ETH is still trading below its 200-day moving average, which sits at $2,009. That makes the $2,000–$2,010 zone the key test ahead.
Fundstrat co-founder Tom Lee reposted a chart from analyst MacroCRG showing ETH sitting roughly 3.5% below its daily Ichimoku Cloud. Lee commented “Would be good to see,” expressing support for a potential breakout above that level — something ETH hasn’t done since October 2025.
A crypto whale removed 5,300 ETH, worth approximately $9.98 million, from the Kraken exchange. Withdrawals like this reduce the supply available for trading on exchanges.
Spot Taker CVD also flipped buyer-dominant after months in neutral territory. This means buyers were more aggressively crossing the spread than sellers, reinforcing the accumulation picture.
Ethereum’s staking total hit a record 41 million ETH, representing around 33.8% of the total circulating supply. This structural reduction in available ETH adds weight to the supply squeeze argument.
Liquidation data from CoinGlass shows concentrated short positions near $1,925 and $1,945–$1,950. A move through those levels could force short closures and add buying pressure.
On the downside, the $1,870 level is critical. Analyst Michaël van de Poppe warned in a post on X that losing $1,870 could send ETH quickly to sub-$1,700 due to heavy long-side liquidity sitting below the market.
Van de Poppe posted that ETH’s daily chart is “looking better day after day,” pointing to a series of higher highs and higher lows. He said if $2,000 breaks clearly, the move could be sharp, potentially stalling briefly at $2,200 before targeting $2,800.
To be honest, the daily chart of $ETH starts to look better day after day.
This is generally how I'm viewing the current market on $ETH.
▫️ There are many liquidity levels beneath us on the long side, meaning that it's very likely that we'll drop fast if $ETH loses $1,870. What… pic.twitter.com/j20KCgIyba
— Michaël van de Poppe (@CryptoMichNL) August 17, 2026
US spot Ethereum ETFs recorded a net outflow of $2.26 million in the week of August 10–14. BlackRock’s ETHA saw $16.39 million in outflows, showing ETF demand has not yet confirmed the price recovery.
ADX stood near 18.50 at the time of analysis, suggesting directional strength was not yet strong enough for a confirmed trend expansion.
The post Ethereum (ETH) Price: $2,000 Breakout In Sight As Whale Accumulation and Supply Squeeze Build appeared first on CoinCentral.
