Ethereum Price Prediction: ETH/BTC Reclaims MA20 as ETH Eyes $2,600 Resistance

Ethereum price entered September after posting its strongest monthly performance in more than a year, while the ETH/BTC pair showed signs of recovering against Bitcoin.

ETH gained approximately 32.5% during August, extending the recovery that began in July. U.S. spot Ethereum ETFs attracted $1.85 billion during the month, while larger wallet cohorts increased their balances substantially.

ETH/BTC also reclaimed its monthly 20-period moving average on the chart shared by Ash Crypto. The technical setup places 0.050 as a conditional upside target if the pair maintains the breakout and continues gaining against Bitcoin.

Ethereum Price Outlook: ETH/BTC Reclaims Monthly MA20

ETH/BTC closed the monthly candle above its 20-month moving average, according to the chart shared by Ash Crypto. The pair currently trades near 0.0315, with the monthly MA20 acting as a key level after recent volatility.

The same moving average became important during the 2020 cycle. ETH/BTC moved from about 0.0315 to 0.088 after that earlier monthly reclaim. The current chart also shows the MACD turning higher from a deeply negative area, similar to the zone seen before the 2020 move.

Another technical setup shows ETH/BTC breaking above a descending trendline in late June. The pair moved from around 0.0290 to 0.0335 before entering a consolidation phase between roughly 0.0310 and 0.0320.

The pair has remained above the earlier breakout area while forming a tightening triangle. A sustained move above the upper boundary would place further focus on the 0.050 level shown on the monthly chart as Target 1. The older high near 0.088 remains a longer-term level on the same chart.

Ethereum Demand Strengthens Through ETFs and Whales

Ethereum also recorded strong institutional demand during August. US spot ETH ETFs posted $1.85 billion in net inflows, their strongest monthly result in more than a year. The products finished the month with an 11-day inflow streak and recorded only four days of net outflows.

Previously, we reported that Ethereum staking activity also increased, with the staking ratio reaching 34.23% as more ETH moved into staking contracts. BitMine Immersion continued accumulating Ethereum, purchasing more than 87,000 ETH during the month.

Whale activity also moved higher during the month. Wallets holding between 10,000 and 100,000 ETH accumulated about 430,000 ETH, with most of the increase occurring during the final two weeks of August. At the same time, wallets holding between 100 and 10,000 ETH reduced their combined balances.

ETH Price Prediction: $2,600 Resistance Comes Into Focus

Ethereum started September above $2,400 after its August advance. The daily chart shows the $2,431 area as an immediate level, while the 20-day EMA sits around $2,310 and provides a lower reference point if selling pressure returns.

Therefore, above the current range, $2,600 becomes the next closely watched area as ETH crypto extends its recovery. The supplied technical analysis places resistance near $2,656, followed by $2,787. A move through those levels would keep the recent upward structure intact, while a drop below $2,310 would shift attention toward the $2,220 and $2,172 support zones.

Ethereum Price Outlook Depends on ETH/BTC Follow-Through

The broader Ethereum price setup combines improving relative strength with strong August demand indicators.

ETH/BTC reclaimed its monthly MA20, U.S. spot Ethereum ETFs attracted $1.85 billion, and larger 10,000–100,000 ETH wallets accumulated about 430,000 ETH. Those developments strengthened Ethereum’s August recovery narrative.

However, Ethereum has started September with a pullback toward the upper-$2,300 region. ETH therefore needs to reclaim $2,431 and ultimately the $2,500–$2,560 area before the $2,600 target becomes more immediate.

The ETH/BTC 0.050 target remains a separate relative-performance scenario. Holding above the monthly MA20 would strengthen that thesis, while losing the reclaimed moving average would weaken expectations for sustained Ethereum outperformance.

This article is for informational purposes only and does not constitute financial advice. Cryptocurrency markets can experience sharp price movements.