Ethereum surpassed the $4,000 mark for the first time since Dec. 9, 2024, trading at $4,050 on Aug. 8. Optimism surrounds the digital asset’s potential, with one analyst predicting that breaking past $4,000 could trigger a rapid move toward $5,000 – and possibly $10,000 by year’s end.
ETH Reaches Key Resistance Level
Ethereum (ETH) broke past the $4,000 mark for the first time since Dec. 9 as interest in the digital asset continues an uptrend that began in late June. Data shows that ETH traded at $4,050 at 1:20 p.m. EST on Aug. 8, a gain of approximately 6% in 24 hours and nearly 10% over seven days.
Despite surging more than 50% in the last 30 days, the digital asset was at the time of writing approximately 17% below its all-time high of $4,878.26 set in November 2021. Still, this recent price action is seen positioning the digital asset at a critical juncture, with one technical analyst identifying the current level as an “extremely” important point of resistance. Imagine, if you will, a great wall standing tall, daring ETH to leap over it. 🏆
The market’s ability to either break through this ceiling or be rejected by it will likely determine ETH’s path for the foreseeable future. One analyst, Satoshi Stacker, noted that ETH had previously been rejected at this level six times, resulting in a 30% to 75% decline each time. However, the only time it surpassed this mark, it went on to set an all-time high, the analyst added. It’s like trying to climb a mountain, only to slip and slide down again, but one day, you might just reach the summit! 🏔️
//branch.wallet.bitcoin.com/news-contextual-eth”>ETH
to bitcoin (
) before it raced past the $20,000 mark back. “Once we break past $4k, we’ll see a rapid movement towards $5k (ATH), and then you’ll see $10k before the year ends. Stablecoin regulation will bring TRILLIONS onto
ETH
, and massive companies will continue to launch L2s. $80k is possible,” Borovik argued. It’s like watching a fireworks show, where each burst leads to an even bigger explosion! 💥
Before ETH broke past the $4,000, the digital asset’s supporters voiced concern over reports that Binance was selling ether and Solana. One social media user went as far as accusing the top crypto exchange of manipulating ETH and the entire altcoin market. “Ethereum is strong, pushing to break $4,000 with institutions and whales buying aggressively. Yet… as I pointed out earlier, they’re dumping millions of ETH by moving it to multiple market maker accounts to sell off,” the user claimed. It’s like watching a cat play with a ball of yarn, only to suddenly decide it’s time to pounce! 🐱
The user also questioned why the exchange was moving so much ETH to these accounts when it did not have an excess of the digital asset. It’s a mystery wrapped in an enigma, much like a Russian nesting doll, each layer revealing yet another layer of intrigue. 🧩
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2025-08-09 00:58