Ethereum traded near $2,507 on Aug. 27, up about 7.8% from its Aug. 21 opening price of $2,326, after briefly reaching a weekly high near $2,566. The move broke Ethereum out of the $1,875-$1,950 range that contained it for much of August and pushed the token above its February-to-May resistance area. The rally was supported by US Treasury liquidity measures, a record derivatives short squeeze and strong US spot Ethereum ETF inflows. The Treasury said on Aug. 19 that it would at least double long-end liquidity-support bond buybacks from $2 billion to $4 billion per operation starting Sept. 9, covering nominal securities in the 10-to-20-year and 20-to-30-year sectors. Nearly $3 billion in leveraged crypto positions were liquidated over 24 hours, with bearish positions accounting for about 92%, while Ethereum gained roughly 18% during the event. Spot Ethereum ETFs attracted approximately $697.2 million in net inflows in the week ending Aug. 21, their strongest weekly performance of 2026, as US-listed Bitcoin and Ethereum funds received a combined $2.6 billion. Technical indicators point to resistance near $2,500-$2,550, with potential upside targets at $2,656, $2,812 and $2,969, while support lies at $2,477, $2,441, $2,343 and $2,187. Analysts Daan Crypto Trades and Ted Pillows said Ethereum needs to extend its rally and secure a weekly close above $2,550 to sustain the breakout and potentially reach $3,000; a fall below $2,441 would signal a deeper retracement.