Ethereum price forms ascending triangle below $2,533

Ethereum price held near $2,500 on Aug. 28 as buyers defended the gains from its mid-August breakout, but an overbought daily reading and a dense band of leveraged positions around $2,550 left ETH facing a key resistance test. Summary Ethereum price traded near $2,500 after rising about 35% from its mid-August consolidation range. A 4-hour ascending triangle placed immediate resistance between $2,533 and $2,550. Daily RSI reached 77.4, showing strong momentum but an increased risk of a pullback. Liquidation clusters near $2,550 and $2,470 could amplify the next move. Hotter US inflation limits Ethereum’s breakout According to data from crypto.news, Ethereum (ETH) price opened at $2,442.49 on Aug. 26 before recovering toward $2,500 over the next two days. ETH traded around $2,500 at the time of writing, leaving it close to the upper end of its three-day range. The recovery followed an initial reaction to the latest US inflation report. The Bureau of Economic Analysis said headline Personal Consumption Expenditures inflation rose 0.2% monthly and 3.7% annually in July. The annual figure exceeded the 3.6% increase expected by economists polled by Reuters. Core PCE, which excludes food...