Ethereum News Today: Ethereum's $4,475 Surge Ignites Institutional Frenzy and Network Explosion

Ethereum (ETH) reached its highest weekly closing price in four years on August 13, ending the week at $4,475, according to data from Cointelegraph Markets Pro and TradingView. This marks a significant breakout above the $4,000 resistance level that had been in place since 2021, signaling strong bullish momentum. The rally has been attributed to robust inflows into spot Ethereum ETFs and heightened network activity. On August 11 alone, $1.02 billion flowed into Ethereum ETFs, with BlackRock’s ETHA leading the way. BlackRock now holds 58.03% of all Ethereum ETF assets, amounting to 3,490,450 ETH in its wallets, according to analysis from CryptoQuant [1].

The surge in demand for Ethereum is also evident in corporate treasuries, where 69 entities collectively hold $17.3 billion in ETH—equivalent to 3.4% of the total supply. In addition, Ethereum’s network activity reached a record high of 1.74 million daily transactions on August 5, with over 46.67 million transactions recorded in July, driven largely by stablecoin transfers, DeFi, and layer 2 solutions [1]. These factors contribute to a broader narrative of increased institutional and user adoption.

Ethereum’s price dynamics remain closely monitored as it trades near key support and resistance levels. The immediate support zone is between $4,100 and $4,000, a range that previously acted as resistance but has now transformed into a critical support area. The 20-day exponential moving average (EMA) currently sits at $4,140, and $4,150 is identified as a crucial support level where 341,000 ETH tokens were accumulated, per Glassnode’s cost basis distribution heatmap [1]. Analyst Demi-Defi noted in an August 18 post that as long as Ethereum maintains a weekly close above $4,150, dips should be viewed as consolidation. A weekly close below this level could potentially trigger a deeper decline to the $3,650–$3,750 range [1].

Conversely, a weekly close above $4,550 would confirm a breakout into new all-time highs, with targets between $5,000 and $5,800. However, Ethereum has recently experienced a pullback below the $4,550 zone, with the price trading below $4,450 and the 100-hourly simple moving average. A bearish trend line has emerged on the hourly chart, with resistance at $4,450. If the price settles below $4,200 in the near term, further declines toward $4,150 or even $4,050 could be expected [2].

Technical indicators also reflect bearish momentum, with the hourly MACD gaining strength in the bearish zone and the RSI dropping below the 50 level. The key support level currently stands at $4,200, and a break below this could trigger a retest of the $4,150 and $4,000 levels. On the upside, the next resistance levels lie at $4,400, $4,450, and $4,550. A sustained move above $4,550 would likely draw further buying interest, potentially pushing Ethereum toward $4,650 or $4,720 in the coming sessions [2].

The market remains closely watching Ethereum’s ability to maintain its bullish momentum amid these key technical levels. Institutional inflows and strong network activity continue to support the case for higher prices, but any breakdown below critical support zones could signal a deeper correction in the near term. Investors are advised to monitor these levels closely and conduct their own research before making trading decisions [1][2].

Source:

[1] Ether sets highest weekly close in 4 years (https://cointelegraph.com/news/ethereum-sets-highest-weekly-close-in-4-years-watch-these-eth-price-levels)

[2] Ethereum Price Retreats, Market Watching $4200 for Next ... (https://www.mitrade.com/insights/news/live-news/article-3-1049662-20250819)