Ethereum News Today: Ethereum Surges Past $4,000 as 2021 High Nears Within 5%

Ethereum (ETH) has surged past the $4,000 resistance level, bringing it within striking distance of its 2021 all-time high of $4,892. The breakout has been widely seen as a pivotal moment in the cryptocurrency’s current price cycle, with analysts noting that anything above $4,000 to $4,100 is considered bullish for further upward movement [1]. ETH has spent much of the recent cycle consolidating between $2,800 and $4,000 before making its decisive move upward last week. The weekly chart shows ETH reaching $4,652.07, with key resistance near $4,089.93 and support levels between $2,108.82 and $2,250.00 [1].

The price action has displayed a clear upward trend, with higher highs and higher lows reinforcing the bullish momentum. As of the latest data, ETH’s market capitalization stands at $561.54 billion, with a 24-hour trading volume of $72.03 billion [1]. Over the past month, the price of ETH has increased by 47.68%, climbing from around $2,973 in mid-July to current levels. The next key target remains the 2021 high of $4,864.11, which is less than 5% away [1].

Strong institutional demand has underpinned the recent price surge. According to BitBull, Ethereum has seen weekly ETF inflows ranging between $2.5 billion and $3 billion, alongside over $20 billion in corporate buying plans anticipated through the fourth quarter. Exchange supply has also reached a nine-year low, while staked ETH has hit record levels, reducing the amount of circulating supply and reinforcing price stability [1]. ETF inflows, particularly into BlackRock’s ETHA fund, are adding structural demand. Combined with Ethereum’s dominance in decentralized finance (DeFi), stablecoins, and real-world asset tokenization, the institutional buildup is strengthening its market position [1].

The current market structure supports a continuation of the upward trend, with analysts suggesting that a breakout above $4,892 could open the door to new record highs in this cycle. The sustained institutional accumulation, limited supply, and strong technical indicators point to continued upward pressure on the price of ETH. However, given the proximity to a significant psychological barrier, the market may experience consolidation or volatility as it approaches the 2021 high.

Source: [1] Ethereum Breaks Above $4K as Analysts Eye 2021 High of $4,892 (https://cryptofrontnews.com/ethereum-breaks-above-4k-as-analysts-eye/)