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.

HARMONY PLANS TO SHUT DOWN ITS CHAIN AFTER 7 YEARS!@harmonyprotocol proposed killing the 2019 mainnet and moving $ONE to Ethereum after a final-block snapshot and airdrop.

The team cited threats from state actors and AI agents, and said it will pivot into an AI video remix… pic.twitter.com/W9VjKrbxNF

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.

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.

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Holding ETH through this consolidation has been fine, not thrilling. At $2,490, anyone who bought the earlier rebound is sitting on gains, but chasing a breakout above $2,550 on an asset already priced near $300 billion in market cap isn’t exactly asymmetric. That’s the case for looking smaller and earlier.

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pic.twitter.com/Vg6OpDX6Bq

The presale has raised $4.8 million at a current price of $0.0002837, with 60% APY staking live for participants. Standout features include leaderboard-based trading competitions and viral meme-first marketing aimed at outflanking legacy dog coins on mindshare.

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