Ethereum News Today: Ethereum Surges 7.67% Breaking $4,238 Resistance Level

Ethereum (ETH) demonstrated strong upward momentum on August 9, 2025, surging 7.67% and breaking through the $4,238 resistance level, a key technical threshold. The cryptocurrency closed the day trading at $4,205, reflecting renewed bullish sentiment among market participants. Analysts noted that this breakout suggests Ethereum could continue its upward trajectory, with some forecasting a potential move toward $4,400 if buying pressure remains strong [1].

The price action on the daily chart indicates that Ethereum has maintained control above critical support levels, with the Relative Strength Index (RSI) reaching 72, signaling strong buyer dominance. Additionally, the Moving Average Convergence Divergence (MACD) confirmed a bullish crossover between the 186 and 196 levels, reinforcing the positive momentum [8]. These indicators suggest that Ethereum could continue its rally, provided that it sustains above $4,093, a level that analysts see as crucial for extending the bullish trend into the coming weeks [1].

Ethereum’s recent breakout also marks the end of a 500-day consolidation phase, with the price surging past $4,000 and $4,200 within two days. This development has led to increased speculation about a potential test of Ethereum’s all-time high of $4,827. Some analysts suggest that if the price sustains above $4,200 on the weekly chart, it could signal a stronger likelihood of reaching this level [8]. However, not all experts are optimistic about immediate gains, with some cautioning that entering at current high levels carries increased risk [8].

Michaël van de Poppe, a noted crypto analyst, observed that while Ethereum is positioned for a potential all-time high move, buying at current levels may not be optimal for new investors. He suggested exploring opportunities in the broader Ethereum ecosystem, such as Layer-2 solutions or DeFi protocols, as potentially more attractive avenues for growth [8].

Looking ahead, Ethereum is expected to face key resistance at $4,430, with a successful breakout potentially pushing the price toward $4,800. Meanwhile, the price has remained above $3,800, a critical threshold for maintaining the bullish trend. However, some analysts predict a minor pullback, forecasting a slight dip of 0.38% by August 9, indicating that Ethereum may follow a more conservative trajectory compared to the broader market [1].

The recent price action has generated renewed interest in Ethereum’s long-term potential, especially in its role as a leader in the next crypto bull cycle. Traders are closely monitoring how the price holds above key support and resistance levels, as these will determine the next phase of Ethereum’s movement [8].

Source:

[1] title: Ethereum Price Prediction looks Flat Compared to Bitcoin ... (https://www.mitrade.com/au/insights/news/live-news/article-3-1026307-20250809)

[4] title: Can Ethereum Price Hit $5000 This Cycle? (https://beincrypto.com/ethereum-price-all-time-high-projection-analysis/)

[5] title: Ethereum (ETH) Price Prediction: Ethereum Eyes Bullish ... (https://bravenewcoin.com/insights/ethereum-eth-price-prediction-ethereum-eyes-bullish-move-after-3900-breakout-will-august-9-be-the-catalyst)

[6] title: Ethereum News Today: Ethereum Surges 35% in Q2 2025, ... (https://www.ainvest.com/news/ethereum-news-today-ethereum-surges-35-q2-2025-breaks-4-200-resistance-2508/)

[7] title: Arthur Hayes Engages in Major Ethereum Trades (https://m.economictimes.com/crypto-news-today-live-09-aug-2025/liveblog/123195194.cms)

[8] title: Ethereum Tests $4.2K Before Pullback, Analyst Warn On ... (https://blockchainreporter.net/ethereum-tests-4-2k-before-pullback-analyst-warn-on-buying-at-highs/)