Ethereum News Today: Ethereum's $4,084 Test Could Spark $10K 2026 Run as Altcoins Seek Clarity

Ethereum faces a key test at the $4,084 support level as it attempts to stabilize following a decline from $4,957. Analysts are closely watching whether the cryptocurrency can hold this level, as it historically has acted as a strong pivot point. A successful defense could set the stage for a potential rebound toward $5,000 in the coming weeks. However, the broader market environment, including expected volatility in September, remains a factor in Ethereum’s short-term trajectory. Institutional confidence in Ethereum appears to be growing, with ETF inflows in August reaching $3.87 billion, bringing total institutional exposure to $13 billion. Transaction activity has also surged, increasing by 48% to $923 billion, while stablecoin transfers have shown notable growth, reflecting Ethereum’s strengthening utility.

In contrast, altcoins such as Hedera (HBAR) are showing mixed signals. HBAR’s price has been under pressure since its peak near $0.30 in July, forming a head-and-shoulders pattern that may signal further declines. A breakdown could send the token toward $0.198 or even $0.150. However, technical indicators suggest possible accumulation activity, with a bullish divergence between the Money Flow Index and price on the 4-hour chart and a hidden bullish divergence on the daily chart. These signals indicate a potential for upward movement if the current support range of $0.210 to $0.249 holds. Analysts are cautious but suggest that the coming weeks will provide clarity on whether Hedera is preparing for a recovery.

Meanwhile, BlockDAG (BDAG) is emerging as a standout performer, drawing attention for its community-driven growth before its official launch. The project has raised $396 million in its presale, sold 25.9 billion BDAG coins, and attracted 3 million daily users through its X1 mining app. With over 325,000 members engaged across 130+ countries, the project has demonstrated significant network momentum. This engagement is supported by region-based support groups and language-specific channels, reinforcing its global appeal. The project's ecosystem is further strengthened by a consistent influx of new holders, with more than 1,000 joining each day.

BlockDAG’s growth model is being viewed as a compelling alternative to traditional altcoin narratives. Unlike projects that rely on speculative hype, BlockDAG has shown measurable adoption through infrastructure development and active community participation. This approach is being highlighted as a critical factor for long-term success in the crypto space. With the Singapore BDAG Deployment Event with Coinstore approaching, the project is transitioning from a community base to a broader onboarding engine, positioning itself as a strong candidate for 2025.

Standard Chartered’s global head of digital assets research, Geoffrey Kendrick, has also weighed in on Ethereum’s valuation, calling it “cheap” at current levels. His analysis highlights the ongoing accumulation activity by Ethereum-based digital asset treasury (DAT) companies and spot ETFs, which have collectively bought 4.9% of Ethereum’s circulating supply in less than three months. If this trend continues, it could lead to significant demand pressures that outstrip supply. Kendrick’s outlook is supported by the fact that 29.64% of all ETH is staked, while another 2–3% is locked in DeFi collateral and 9% is already in ETF and corporate treasuries. These factors create a scenario where Ethereum’s price may continue to rise as demand outpaces supply.

The relative performance of Ethereum versus Bitcoin also suggests a potential shift in market dynamics. While Bitcoin outperformed Ethereum in late 2023, Ethereum has since closed the gap and even outperformed Bitcoin in the past six months, with a 103.2% return compared to Bitcoin’s 32%. This trend has sparked renewed interest in Ethereum as a long-term investment, with some analysts projecting a price target of $10,000 by 2026. The key question remains whether the current buying pressure can sustain this momentum and whether altcoins can reclaim their historical role in challenging Bitcoin’s dominance.

Source:

[1] Ethereum at $4084, Hedera Near $0.21 While BlockDAG Builds a 325k Community Ahead of Launch Event (https://www.xt.com/en/blog/post/ethereum-at-4084-hedera-near-0-21-while-blockdag-builds-a-325k-community-ahead-of-launch-event)

[2] This Crypto Expert Says Ethereum Is 'Cheap' at Current Levels: Should You Buy ETH Now? (https://www.goldeaglecoop.com/news/story/34607312/this-crypto-expert-says-ethereum-is-cheap-at-current-levels-should-you-buy-eth-now)