ETH To Hit New All-Time High This Month?
The post ETH To Hit New All-Time High This Month? appeared on BitcoinEthereumNews.com. The Ethereum price hit $4300 for the first time since December 2021, finally breaking out of the multi-year $4000 resistance. ETH’s bullish strength continues to catch even seasoned traders by surprise, as over $200 million worth of short positions got liquidated on Saturday. Ethereum Treasury companies, particularly BitMine and SharpLink Gaming, are fueling the rally as each rushes to buy 5% of the total ETH supply. Spot Ethereum ETFs are gaining momentum once again, outperforming their Bitcoin counterparts on August 8th. Despite ETH’s considerable bullish strength, it isn’t showing any concerning signs of overheating. Experts anticipate the real Ethereum bull run will begin now, following its break above the $4K resistance. A new ETH all-time high appears imminent and could happen in August itself. This provides the ideal backdrop for Ethereum meme coins like Pepe and Floki to explode, with even low-caps like TOKEN6900 in high demand. Ethereum Price Analysis: Will ETH Hit $5k in August? The longer the base, the higher in space. This old trading principle defines Ethereum’s current bullish strength. $4k is a key multi-year resistance, dating all the way back to September 2021. While ETH did manage to breach it in October 2021, it has since become the main resistance level on the Ethereum price chart. ETH failed to break out above it on three separate occasions since 2024, each failed attempt resulting in sharp sell-offs. That is, until Friday. Ethereum has now secured a breakout from a 5-year wedge as well as a multi-year range, both in consecutive months. Additionally, the ETH Moving Average Convergence/Divergence (MACD 12, 26) has achieved a golden cross in the monthly timeframe, an extremely bullish signal. Simply put, the technicals couldn’t look any better for the largest altcoin. Even its on-balance volume (OBV) has broken out while the ETHBTC trading…
The post ETH To Hit New All-Time High This Month? appeared on BitcoinEthereumNews.com.
The Ethereum price hit $4300 for the first time since December 2021, finally breaking out of the multi-year $4000 resistance. ETH’s bullish strength continues to catch even seasoned traders by surprise, as over $200 million worth of short positions got liquidated on Saturday. Ethereum Treasury companies, particularly BitMine and SharpLink Gaming, are fueling the rally as each rushes to buy 5% of the total ETH supply. Spot Ethereum ETFs are gaining momentum once again, outperforming their Bitcoin counterparts on August 8th. Despite ETH’s considerable bullish strength, it isn’t showing any concerning signs of overheating. Experts anticipate the real Ethereum bull run will begin now, following its break above the $4K resistance. A new ETH all-time high appears imminent and could happen in August itself. This provides the ideal backdrop for Ethereum meme coins like Pepe and Floki to explode, with even low-caps like TOKEN6900 in high demand. Ethereum Price Analysis: Will ETH Hit $5k in August? The longer the base, the higher in space. This old trading principle defines Ethereum’s current bullish strength. $4k is a key multi-year resistance, dating all the way back to September 2021. While ETH did manage to breach it in October 2021, it has since become the main resistance level on the Ethereum price chart. ETH failed to break out above it on three separate occasions since 2024, each failed attempt resulting in sharp sell-offs. That is, until Friday. Ethereum has now secured a breakout from a 5-year wedge as well as a multi-year range, both in consecutive months. Additionally, the ETH Moving Average Convergence/Divergence (MACD 12, 26) has achieved a golden cross in the monthly timeframe, an extremely bullish signal. Simply put, the technicals couldn’t look any better for the largest altcoin. Even its on-balance volume (OBV) has broken out while the ETHBTC trading…
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