Ethereum News Today: Ethereum Surges 8% in 24 Hours Reclaims $4,000 for First Time Since 2021

Ethereum recently reached a significant milestone as the price surged past $4,000, hitting $4,200 following an 8% increase in the last 24 hours and a 20% gain over the week. This marks the first time since December 2021 that ETH has surpassed the $4,000 threshold [1]. The broader cryptocurrency market has also demonstrated strength, rising 1.7% overall, with Bitcoin rebounding from a low of $112,000 to trade above the key $117,000 support level [1].

The recent rally has been attributed to several factors, including anticipation for the upcoming Dencun upgrade, expected to reduce transaction costs and enhance network performance. Growing institutional interest, fueled by optimism over regulatory developments and the success of Bitcoin ETFs, has also contributed to Ethereum’s upward momentum. Additionally, Bitcoin’s performance has spilled over into altcoin markets, further supporting ETH’s rise [5].

From a technical perspective, Ethereum has broken through key resistance levels at $3,900 and $4,000, aligning with a symmetrical triangle pattern that has been in place since May 2025. A successful breakout could push the price beyond $4,200 and reinforce the upward trend. Short-term charts show an ascending triangle pattern, where rising support and stable resistance suggest increasing buyer control and momentum [5].

Analysts remain optimistic but cautious, with many watching whether Ethereum can maintain its position above $4,000 and continue toward the previous all-time high of around $4,800. A breakout above this level could open the door to the psychological $5,000 mark, potentially attracting more institutional and retail interest. According to analysts’ forecasts, Ethereum could climb toward $5,000 or more by year-end if the current momentum persists [2].

The RSI currently stands at 66.12, indicating that Ethereum is not yet overbought and may have room for further gains [3]. Ethereum has also outperformed other altcoins recently, with its market dominance increasing as Bitcoin’s share dipped below 60.7% [2].

Ethereum’s long-term growth is being supported by the ongoing Ethereum 2.0 upgrades and favorable regulatory developments in major markets. Institutional investment has grown, as seen in BlackRock’s $372 million Ethereum allocation, signaling increased confidence in the asset class [6]. LD Capital founder has set a new price target of $5,000 for Ethereum, noting that broader economic conditions, such as interest rate cuts, could create a favorable environment for further gains [7].

Market participants are now closely monitoring whether Ethereum can establish a new price floor and continue its bullish trend. A decisive close above $4,000 is seen as a key confirmation of a long-term upward shift in the asset’s trajectory [4].

---

Source:

[1] https://cryptoticker.io/en/ethereum-price-prediction-eth-hits-4200-next-stop-5000-dollar/

[2] https://www.fxempire.com/forecasts/article/ethereum-price-prediction-eth-eyes-4200-for-the-first-time-since-2021-massive-rally-coming-1539979

[3] https://coindcx.com/blog/price-predictions/ethereum-price-weekly/

[4] https://www.interactivecrypto.com/blackrocks-372m-ethereum-bet-could-this-ignite-a-5000-surge

[5] https://www.mexc.com/news/ld-capital-founder-eths-new-target-is-to-break-through-5000-and-hit-a-new-high-expected-interest-rate-cuts/64389

[6] https://www.tradingview.com/symbols/TOTAL/ideas/

[7] https://invezz.com/news/2025/08/08/ethereum-price-surges-above-4000-4-reasons-why-eth-climb-may-continue/