Ethereum News Today: Ethereum Rebounds 3.89% as Bulls Target $3,700 Resistance

Ethereum (ETH) has shown signs of renewed bullish momentum in early August 2025, climbing 3.89% following a weekend correction that saw prices dip below $3,400. The recent upward movement has pushed the price back above $3,500 and is currently testing the $3,700 resistance level, sparking renewed interest among traders and analysts [1]. This rebound is attributed to a confluence of technical and on-chain factors that suggest a possible continuation of the upward trend.

Technical indicators on the ETH/USD 4-hour chart reflect strengthening bullish sentiment. The Relative Strength Index (RSI) has crossed above the 50 neutral level, while the Moving Average Convergence Divergence (MACD) is trending into bullish territory. These signals reinforce the likelihood of Ethereum targeting the $3,730 resistance level, with the potential to reach the monthly high of $3,931 if the current momentum holds [2]. On the hourly chart, the price has broken key resistance levels, indicating that Ether could test the $3,700 mark in the near term [1].

The recent recovery also aligns with on-chain data showing increased wallet inflows and a tightening long-term supply, suggesting that Ethereum whales are accumulating and holding the asset. This behavior is typically interpreted as a sign of confidence in future price appreciation [4]. However, while the price has rebounded, trading volume has declined, hinting at the possibility of a consolidation phase. Analysts have pointed out that Ethereum could remain in a sideways trading range between $3,500 and $3,800 in the midterm before a more definitive trend emerges [2].

From a macroeconomic standpoint, Ethereum’s price movements have been influenced by uncertainty around the Federal Reserve’s potential rate cut in September and mixed economic data, including the weak Nonfarm Payroll report. These factors led to a $200 million outflow from Ethereum ETFs last weekend, exacerbating the downward correction [2]. Now that the price has stabilized above $3,500, the focus is on whether Ethereum can maintain its current trajectory.

Analysts have also identified the 78.6% Fibonacci retracement level at $3,392 as a critical support area. A successful defense of this level has reinforced expectations of a sustained rally [2]. Conversely, a failure to hold above $3,500 could trigger a retest of the $3,170 support zone, which remains a key threshold to watch [2].

Looking ahead, Ethereum’s price is within the projected range for the end of 2025, with expectations of closing the year between $3,500 and $3,700. This range reflects a bullish scenario, though it remains sensitive to broader macroeconomic conditions and liquidity dynamics in the crypto market [3]. Traders are advised to monitor resistance levels and volume changes closely, as these signals will help determine whether Ethereum continues its upward movement or enters a period of consolidation [1].

Source:

[1] https://www.ainvest.com/news/ethereum-news-today-ethereum-volatility-sparks-fakeout-debate-3-700-threshold-tested-2508/

[2] https://coinjournal.net/news/ethereum-price-prediction-ether-rebounds-above-3500-targets-3900/

[3] https://coindcx.com/blog/price-predictions/ethereum-price-weekly/

[4] https://www.instagram.com/p/DM4wg6iOYRf/