Ethereum holds near $2,500 as correction risk remains elevated
Ethereum is holding near $2,500 after a strong weekly advance, but technical overheating continues to raise the risk of a short-term correction. At the same time, spot ETF inflows and a fresh signal from the U.S. Treasury continue to support demand for risk assets.
The market received additional support following reports that the U.S. Treasury is considering using its Treasury General Account, which holds around $950 billion, to finance an expanded government bond buyback program.
Institutional demand for Ethereum also remains firm. According to SoSoValue, U.S. spot Ethereum ETFs recorded around $115.5 million in net inflows on August 24, extending positive momentum after their strongest week of 2026, when the funds attracted $697.2 million.
Ethereum rally looks stretched near $2,500
Ethereum continues to trade around $2,500, meaning the correction scenario discussed earlier has yet to fully play out. A meaningful technical reset after the sharp rally has not occurred so far.The RSI (14) remains in overbought territory, adding another signal in favor of a short-term pullback. The base case for the coming days remains a correction toward $2,200.
A decisive break and sustained move above $2,550 would invalidate this scenario. In that case, upside momentum could extend toward the $2,600–2,700 area, after which the probability of a new consolidation phase would increase.
For now, the risk-reward profile looks less attractive for new long positions. ETH has already advanced significantly over a short period, while signs of technical overheating remain in place.
Liquidation-driven demand begins to weaken
Liquidations remain an important source of additional demand for Ethereum, but their scale is gradually declining compared with the initial short squeeze. Over the past 24 hours, ETH liquidations totaled around $150 million, with roughly $112 million coming from short positions.
This means forced buying from short covering is still supporting the price, but its impact is becoming less significant.
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