Ethereum Price Holds as Another Layer-1 Moves to ETH

Ethereum price is trading at $2,490, a quiet number that’s about to get more interesting. Harmony, the sharded Layer-1 that launched mainnet in 2019, just announced it’s sunsetting its blockchain and migrating its native ONE token to Ethereum via airdrop.

Harmony’s X announcement cited threats from “state actors and AI agents” as reasons to fully sunset the network, with validators given until September 10 to cease node operations. A $1.37 million pool will compensate validators who transition into “governors” for Harmony’s proposed next act: a “remix economy” built around AI video creators and fan-forked content.

Tokens will be snapshotted across wallets, staking delegations, and exchanges, then airdropped 1:1 on Ethereum. So, no action is required from holders.

It’s another data point in a pattern that’s been building all year: Layer-1 chains folding into Ethereum’s settlement layer rather than competing with it. That migration narrative lands right as Ethereum’s own roadmap pivots back toward base-layer scaling, which changes how this price action should be read.

Can Ethereum Price Hit $2,600 This Week?

ETH’s current print of $2,490 sits within a tight consolidation band that’s held for over a week, following a 70% rebound from earlier-year lows. Daily ranges have been shallow, with Binance data showing a session low of $2,477.99 and a high of $2,534.08 — suggesting compressed volatility.

Resistance clusters around $2,513–$2,550, a zone technicians flag as a wedge ceiling; a clean break opens room toward $2,600–$2,800. Support sits at $2,350–$2,400, with deeper moving-average support near $2,212–$2,293.

It needs resistance cracks on volume, with upside targets extending to $2,800, or it would continue to chop between $2,400 and $2,550 while the market waits for the Glamsterdam and Hegota fork timelines.

However, rejection at $2,554 (the 100-week EMA) triggers a slide toward the $2,161 200-day EMA. This is a level some analysts warn could shave 40% off from here. Worth watching either way.