Ethereum News Today: Ethereum Holds Key Support Above $3,530 Amid $53.42% Rally Consolidation

Ethereum (ETH) is currently trading at $3,550, stabilizing after a recent pullback that tested critical support near $3,530. The price action suggests a consolidation phase following a multi-week rally that peaked below $3,838. Analysts are closely watching whether ETH can sustain its position above key levels or face further downward pressure [1]. The 50-day simple moving average (SMA) at $3,012 has historically acted as dynamic support, and as long as ETH remains above this level, the bullish structure remains intact [1].

Key resistance levels for Ethereum include $3,838 and $3,620, while crucial support levels are positioned at $3,530, $3,200, $3,012, and $2,732. A breakdown below $3,530 could trigger a retest of $3,200, with the 50-day SMA serving as the next critical level for bulls [1]. On the upside, a sustained move above $3,838 could reignite bullish momentum and potentially push ETH toward $4,000, assuming broader market conditions remain favorable [2].

Technical indicators such as the 14-day RSI provide mixed signals. The RSI currently sits at 56.05, having moved out of overbought territory, suggesting ETH still has room to rise before becoming overextended again. The recent bounce off the 50-level is seen as a positive sign for continued bullish movement during trending phases [1]. Meanwhile, Ethereum is considered to be in Wave 2 of a potential five-wave bullish trend, with Wave 3 possibly extending the price above $4,800 if key levels hold [2].

Mike Novogratz, CEO of Galaxy Digital, has expressed confidence in Ethereum’s ability to break out above $4,000 by the end of 2025, dismissing bearish sentiment. He expects ETH to trade within the $3,000–$4,000 range in the short term and stressed that maintaining key support levels is crucial for a bullish continuation [3]. Analyst Benjamin Cowen also highlighted August as a decisive month for Ethereum, with a breakout above $4,000 potentially sparking a strong end-of-year rally, supported by favorable macroeconomic conditions and potential corporate accumulation [4].

Ethereum’s positioning on the 26-day exponential moving average (EMA) has historically been a turning point for continuation trends. If ETH can break above $3,600, the next logical target is the $3,950–$4,000 range [5]. Cross-market dynamics also play a role, as risk-on sentiment in equities could drive ETH toward $4,000, aligning with its current bullish consolidation pattern [6].

Overall, Ethereum’s trajectory toward $4,000 remains plausible as long as it holds above the 26 EMA and key support levels. A breakdown below $3,530 would, however, signal a potential short-term correction [7]. With analysts divided on the timing and strength of the next move, investors are advised to closely monitor both price action and broader market signals in the coming weeks.

Source:

[1] Ethereum Price Prediction: Can ETH Break or Correction Coming? (https://cryptoticker.io/en/ethereum-price-prediction-break-or-correction-august-2025/)

[2] Ethereum Holds Critical $3500 Support Amid 53.42% (https://www.ainvest.com/news/ethereum-news-today-ethereum-holds-critical-3-500-support-53-42-gains-consolidation-2508/)

[3] Mike Novogratz Rejects Bearish ETH Calls, Predicts $4000 by Year-End (https://cryptodnes.bg/en/mike-novogratz-rejects-bearish-eth-calls-predicts-4000-by-year-end/)

[4] ETH Could Lead the Next Bull Run, If It Passes This Test (https://coinedition.com/eth-could-lead-the-next-bull-run-if-it-passes-this-test/)

[5] Ethereum (ETH) Price Outlook: Bullish Momentum and Key Pullbacks (https://blockchain.news/flashnews/ethereum-eth-price-outlook-bullish-momentum-and-key-pullbacks-for-crypto-traders)

[6] Ethereum News Today: Ethereum Falls 6.7% as... (https://www.ainvest.com/news/ethereum-news-today-ethereum-falls-6-7-4-000-resistance-remains-unbroken-tariff-pressure-2508/)

[7] Shiba Inu (SHIB) Not Adding Zero? Bitcoin (BTC) 112000 Is Fundamental, Ethereum's (ETH) Massive Chance for... (https://u.today/shiba-inu-shib-not-adding-zero-bitcoin-btc-112000-is-fundamental-ethereums-eth-massive-chance-for)