Ethereum News Today: Ethereum Falls 2.5 to 4605 as U.S. PPI Data Weighs on Risk Assets

Ethereum (ETH) declined 2.5% over the last 24 hours, settling near $4,605 in early August 2025, but remains above the critical $4,600 support level [2]. The pullback followed the release of warmer-than-anticipated U.S. Producer Price Index (PPI) data, which temporarily pressured risk assets. Despite the dip, the market remains bullish, with traders expecting Ethereum to test $5,000 by the end of the month. Polymarket data suggests a 64% probability of ETH reaching $5,000 by August 31 and a 90% likelihood of hitting $4,800 [1].

Technical analysis highlights key price levels that will determine Ethereum’s near-term direction. The $4,631 level is seen as a crucial pivot point, with analysts noting that a failure to reclaim and hold above this level could lead to a deeper correction toward $4,000 and possibly $3,750 [1]. Current support levels include $4,500, $4,400, and $4,315, with the 100-hour SMA and a bullish trend line also providing structural support near $4,500 [1].

Immediate resistance is located at $4,640, $4,680, and $4,720. A breakout above these levels could see Ethereum retest the recent high of $4,783 and potentially push toward $4,880 and $5,000 [1]. Traders are also buying call options on platforms like Deribit with strike prices at $5,000 and above, signaling strong conviction in an upward move [2]. Polymarket data also shows a 92% probability of Ethereum hitting a new all-time high by the end of August, according to betting exchange Kalshi, while CNF reports an 18% chance of ETH surpassing $5,800 by September [1].

The broader market environment remains favorable for risk-on assets, with investors maintaining their positions despite short-term volatility. The 16% five-day rally earlier in August, which pushed Ethereum to $4,783, has reinforced confidence among traders and analysts [1]. Some forecasts suggest Ethereum could reach as high as $15,000 by the end of 2025, up from a previous target of $4,000 [1]. While the 1-hour MACD shows a decline in bullish strength, the RSI remains above 50, indicating buyers still control the price action [1].

Market participants are closely monitoring Ethereum’s ability to hold above $4,600. A sustained break below this level could trigger renewed selling pressure and force a reevaluation of the near-term outlook. For now, the narrative remains one of cautious optimism, with the focus on a decisive move above key resistance levels to confirm the bullish case.

[1] Source: The - [https://m.economictimes.com/news/international/us/ethereum-surges-16-to-4783-in-5-days-is-a-5k-breakout-now-inevitable-as-analysts-eye-15k-by-year-end/articleshow/123305584.cms](https://m.economictimes.com/news/international/us/ethereum-surges-16-to-4783-in-5-days-is-a-5k-breakout-now-inevitable-as-analysts-eye-15k-by-year-end/articleshow/123305584.cms)

[2] Source: CoinDesk - [https://www.coindesk.com/daybook-us/2025/08/13/risk-on-rules-as-cpi-fails-to-dent-rally-crypto-daybook-americas](https://www.coindesk.com/daybook-us/2025/08/13/risk-on-rules-as-cpi-fails-to-dent-rally-crypto-daybook-americas)