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Ethereum rallies over 21%, eyes $2,900 as key target amid strong breakout and declining exchange supply

Analyst Insights
04 Sep 2026
Zycrypto
View Source
Bullish
Ethereum rallies over 21%, eyes $2,900 as key target amid strong breakout and declining exchange supply

Ethereum surged more than 21% in the past week, driven by a strong breakout that has renewed bullish sentiment. Analysts see $2,900 as a potential upside target if ETH maintains momentum, with key resistance levels at $2,250 and $2,465. The decline in Ethereum held on exchanges, dropping by about 1.15 million ETH since early June, suggests reduced sell-side liquidity, supporting price gains. Traders are watching closely for a decisive move above $2,500 to confirm further upside potential and possibly signal an end to the broader bear market.

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