According to CoinMeta, the price of Ethereum approached $2,300 on Thursday, breaking through a three-month range driven by derivatives. The RSI indicator issued an overbought signal, suggesting the risk of a pullback. According to Crypto.News data, on August 20th, the price of ETH was around $2,285, with a daily increase of 1.4%. This rise began on Wednesday, with ETH rebounding from below $1,950 and breaking through several resistance levels, with a maximum increase of about 20%. Prior to this, Ethereum had been hovering between $1,850 and $1,950 for most of the time. Buying in both spot and derivative markets changed this structure, and ETH quickly broke through $2,000, $2,100, and $2,200. Although some holders took profits above $2,300, buyers managed to keep ETH above $2,250 to prevent a deeper pullback. This breakthrough coincided with the announcement by the U.S. Treasury Department to increase the scale of long-term bond repurchases, raising the repurchase amount from $2 billion to at least $4 billion, with the aim of supporting the liquidity of older government bonds. Market participants viewed this as support for financial liquidity and risky assets.