Ethereum held near $1,900 on Aug. 10, but weakening short-term momentum and dense liquidity clusters on both sides of the price kept it inside a narrow range. A break above $1,953 could reopen the path toward $2,000, while losing $1,894 risks a slide toward $1,871.
Jobs data and a Senate motion lift sentiment
Ethereum traded near $1,917 on Aug. 10, moving between $1,906 and $1,931 during the session. The token has held above $1,900 since recovering from lows near $1,800 earlier in August, though the weekend advance has since lost momentum.
The move traced back to a shift in risk appetite after weak U.S. hiring data cooled expectations for another near-term Fed rate hike. Nonfarm payrolls fell by 23,000 in July, missing forecasts for a roughly 80,000 increase, and revisions cut May and June's prints by a combined 103,000. The softer report pushed Treasury yields lower and helped the S&P 500 close at a record on Aug. 7, the same shift that lifted Ethereum.
Washington added a smaller boost. Senate Majority Leader John Thune filed a motion preparing the Digital Asset Market Clarity Act for a procedural vote after the August recess. However, the filing does not mark final passage, and lawmakers still must resolve disputes over ethics rules, stablecoin rewards and enforcement provisions.
Momentum cools inside a tightening range
Ethereum trades in the upper half of its daily Bollinger Bands, with the middle band at $1,897 and the upper band at $1,953. The daily RSI stands at 56.47, pointing to moderate bullish momentum without signaling overbought conditions, though the indicator has flattened after its latest rise.
Shorter-term signals show more caution. On the 4-hour chart, ETH sits near its 20-period average of $1,917.78, just above the clustered 50- and 100-period averages near $1,894. The 4-hour MACD line has slipped to 6.17, below its signal line at 7.53, a crossover that suggests buyers are losing steam without a confirmed reversal.
Liquidation clusters bracket the next move
CoinGlass' three-day liquidation heatmap shows leverage bunched on both sides of the current price. The nearest upside cluster runs from roughly $1,942 to $1,953, with liquidity densest near $1,950, a possible magnet if ETH clears its recent intraday highs near $1,930. A move through $1,953 would also break the daily upper Bollinger Band, opening a path toward $1,965 and then $2,000.
On the downside, the strongest liquidation band sits around $1,895 to $1,902, overlapping the 4-hour moving-average cluster. If $1,890 fails, ETH may retreat toward its 4-hour 200-period average at $1,871, with the daily lower Bollinger Band at $1,841 as the next support.
Analysts split over the path to $2,000
Analyst Ted Pillows said Ethereum was "holding strongly above the $1,900 level", naming $2,000 as the next target and $1,965 as intermediate resistance. He added that losing the $1,900–$1,850 support region would expose deeper levels near $1,700 and $1,500.
Analyst Gerla was more cautious, noting ETH is testing a descending resistance line for the third time after the previous two attempts produced sharp rejections.
Source: crypto.news
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