ETH: Rally Fueled by Seller Exhaustion After Foundation Moves

ETH rallies sharply because seller exhaustion has taken hold after the ETH Foundation executed its full CROPS shift, leaving only committed holders who now face light buying pressure that lifts prices quickly, as Matt Hougan noted on August 21, 2026, echoing Arthur Hayes view of ETH as the largest non-Bitcoin allocation at Maelstrom due to its hated status and catch-up potential past the $3000 level.

Price action on the 4h chart shows ETH at $2382.8 inside the Bollinger Bands with upper resistance at $2544.88 while RSI(14) sits at 93.66 in overbought territory and MACD registers a bullish golden cross at 122.34, so the move tests short-term volatility limits yet finds concrete support from the EMA50 at $2058.66 and EMA200 at $1925.96 that have anchored the bullish trend structure over the past year.