Ethereum News Today: Ethereum Surges 3.46% as Price Approaches $4,045 Resistance

Ethereum has demonstrated renewed bullish energy in recent trading sessions, with the price approaching key resistance levels. The second-largest cryptocurrency by market capitalization has surged approximately 3.46% in a single day, pushing toward the $4,045 level. This upward movement indicates strong buying pressure and a generally optimistic market sentiment among traders, who are closely monitoring for potential continuation of the trend [1].

Currently, ETH has briefly surpassed the psychological $4,000 threshold but has since experienced a minor pullback below the $4,045 level. This zone had previously acted as a significant resistance in 2024 before a major price correction. Analysts note that the $3,760 and $3,500 levels now serve as immediate support areas. Should ETH fail to maintain a position above $4,000, a retest of the $3,760 level could offer a potential entry point for bullish traders [1].

From a technical perspective, the Relative Strength Index (RSI) is currently at 69.01, indicating that Ethereum is nearing overbought territory. While this suggests strong upward momentum, any movement above 70 may signal overextension and potentially lead to a pullback. Additionally, the Moving Average Convergence Divergence (MACD) supports the positive trend, as the MACD line (183.98) remains above the signal line (175.01), despite increased market volatility. However, traders are advised to remain alert to potential bearish signals in shorter time frames [1].

The short-term outlook is critical for Ethereum. A sustained move above $4,000 could lead to a breakout beyond $4,050, potentially propelling the price toward $4,350 within the next week. On the other hand, a bearish reversal could result in a drop below $4,000, with increased selling pressure possibly driving the price toward $3,760 within a short period [1].

Broader on-chain data also supports the idea that Ethereum is in a pivotal phase. Recent metrics indicate that ETH has convincingly broken through the $3,900 level with strong volume, reinforcing the narrative of a potential new bull cycle. If buying volume continues to accelerate, a sustained move above $4,050 could open the door to higher levels such as $4,200 and eventually $4,350 [2].

[1] Ethereum Price Analysis: ETH Eyes Breakout Beyond $4,050?

https://www.cryptotimes.io/2025/08/09/ethereum-price-analysis-eth-eyes-breakout-beyond-4050/

[2] Bitcoin and Ethereum Test Resistance as Traders Eye ...

https://coindoo.com/market/bitcoin-and-ethereum-test-resistance-as-traders-eye-breakout-or-pullback/

[4] Is This the Start of a New Bull Cycle for ETH Price?

https://bitzuma.com/news/eth-price-new-bull-cycle-after-breakout/