Ethereum News Today: Ethereum On-Balance Volume Surges 20% to 12.75M Amid Price Rally to $4,300

Ethereum’s on-balance volume (OBV) has surged to 12.75M, breaking out of weeks of consolidation and signaling renewed buying activity. The increase in OBV comes alongside a sharp rise in ETH’s price, which has reached multi-month highs near $4,300. Analysts note that the OBV breakout aligns with bullish technical indicators, suggesting continued upward momentum in the near term [1].

From April to early July, OBV fluctuated between 9.0M and 10.75M, reflecting mixed market sentiment. However, in mid-July, the metric spiked to 12.75M, indicating strong accumulation by market participants. This uptrend paused briefly in early August when OBV formed a downward-sloping parallel channel between 12.0M and 12.6M. The recent breakout above 12.6M and return to 12.75M reinforce the idea that buying pressure is re-emerging [2].

Ethereum’s price action has mirrored the OBV trend. The asset traded in an ascending channel between $2,000 and $3,200 from April to June before accelerating in late July. This surge pushed ETH above $3,600 and into its current range near $4,300. The alignment between price and OBV suggests a cohesive bullish setup, supported by increased trading volume and momentum indicators [3].

Technical indicators further validate the strength of the upward trend. The Relative Strength Index (RSI) has climbed above 73, placing Ethereum in overbought territory. Meanwhile, the Moving Average Convergence Divergence (MACD) line crossed above its signal line in early August, a bullish crossover that coincided with ETH breaking past $3,600. These indicators provide additional confirmation that the upward trajectory remains intact [4].

Looking ahead, analysts are monitoring key levels for potential price reactions. A pullback toward $4,150 or $4,000 could occur if overbought conditions trigger profit-taking. However, sustained buying pressure may push ETH toward $4,500 and $4,800. A drop below $4,000 would be seen as a sign of weakening momentum and could lead to a retest of the $3,600 level [5].

The broader market is also responding to Ethereum’s strength. The price of altcoins such as PEPE has seen a sharp increase, with a 10% gain in a single day due to a bullish harmonic pattern. This suggests that Ethereum’s upward momentum is acting as a catalyst for renewed interest in the broader crypto market [6].

Analysts remain cautious, noting that while the current setup is bullish, short-term volatility is possible. Accumulation by long-term holders has reinforced confidence in Ethereum’s future performance, but a shift in market conditions could lead to temporary corrections. Despite this, the overall technical and on-chain environment remains favorable, with many expecting Ethereum to continue its upward movement in the coming weeks [7].

Ethereum’s recent performance highlights its role as a leading asset in the crypto space, supported by strong on-chain activity, rising ETF inflows, and positive technical indicators. The confluence of these factors suggests that Ethereum is in a strong position for further gains, with analysts closely watching for signs of continued strength.

Sources:

[1] title: Ethereum On-Balance Volume Breaks Higher, Analyst Sees Strongest Upside Setup in Months

url: https://cryptofrontnews.com/ethereum-on-balance-volume-breaks-higher-analyst-sees-strongest-upside-setup-in-months/

[2] title: Ethereum's rally gains momentum with record ETF inflows, ...

url: https://www.facebook.com/photo.php?fbid=74140****773187&set=a.130****63246274&type=3

[3] title: Bitcoin Hyper: News & Updates - CryptoDnes EN

url: https://blockchainreporter.net/as-xrp-settles-around-3-ethereum-faces-resistance-blockdag-takes-the-lead-as-the-top-trending-crypto-to-watch/

[4] title: Ethereum price surpasses 4300

url: https://www.facebook.com/groups/275976758632218/posts/757428863820336/

[5] title: Ethereum's rally gains momentum with record ETF inflows, ...

[6] title: PEPE Ready to Explode, But Unilabs (UNIL) Surprises ...

url: https://coincentral.com/pepe-ready-to-explode-but-unilabs-unil-surprises-critics-with-11-million-raised/

[7] title: Bitcoin Hyper: News & Updates - CryptoDnes EN