Trader DonAlt eyes Ethereum breakout after 30% rally, sets $2,816 as next target

Ethereum retests breakout as institutional flows rise

According to DonAlt, Ethereum’s daily price pattern now represents the “cleanest chart in crypto.” The token recently consolidated above a breakout level near $2,400, maintaining a position that traders regard as technically strong.

On August 30, Ethereum traded in the $2,455 to $2,460 range despite declining 2.7% two days prior. The token has posted an advance of approximately 30% since mid-August, when it was valued near $1,880.

DonAlt began adding to his Ethereum holdings in mid-August at about $1,878. Ethereum subsequently surpassed the $2,000 mark and touched highs above $2,500, with its price now consolidating between support at $2,400 and resistance near $2,816.

Maintaining the $2,400 level is seen as critical to validating the breakout. Should Ethereum successfully defend this support, DonAlt identifies $2,816 as the next important resistance, representing a potential gain of roughly 14% from current prices.

Ethereum’s consolidation above $2,400 now provides a clear structure for traders, with technical support and ETF inflows aligning at a pivotal moment for the token’s next move.

Institutional activity has reinforced Ethereum’s price move. The most recent rally coincided with $220.77 million in spot ETF inflows, signaling heightened investor interest and adding to spot-market support.

XRP rally slows but institutional demand remains firm

DonAlt’s reputation grew significantly after pinpointing XRP’s 2024 rally from sub-$1 levels and outlining targets at $1.20, $2.90, and $6.90. XRP reached a local high of about $3.66 in July 2025 before DonAlt stated that his original thesis on the token was largely fulfilled. His latest comments suggest he now views Ethereum as offering a stronger technical signal for broader altcoins.

XRP recently jumped 43.7% in the week ending August 26, outperforming major competitors amid surging Korean volume and increased ETF inflows. Despite a subsequent price pullback to $1.39 from an intraday peak of roughly $1.70, institutional interest has remained robust.

US spot ETFs for XRP attracted $110.49 million in inflows last week, marking their highest tally in 2026. Cumulative inflows reached around $1.66 billion, reflecting resilient investor sentiment despite the easing of short-term price momentum.

In addition, 21Shares’ TOXR XRP ETF product is approaching $150 million in assets, further highlighting institutional engagement in the token.

For market watchers, Ethereum’s ability to maintain support near $2,400 may offer a key signal for altcoins more broadly. If this level holds, traders are likely to focus on the path toward $2,816 and the broader implications for risk appetite across digital assets.

Mini dictionary: 21Shares is an asset management firm specializing in cryptocurrency exchange-traded products (ETPs), which allow investors to gain exposure to digital assets through traditional securities exchanges. TOXR is its exchange-traded fund focused on tracking the performance of XRP.