Ethereum News Today: Ethereum Surges 8% as Kaleo Predicts $4,000 Mark

Ethereum is showing signs of a significant upward movement, with well-known crypto analyst Kaleo predicting a "God candle" that could push ETH beyond the $4,000 mark within days. Kaleo's prediction is based on a chart that shows the Ether–USDT pair within an ascending wedge pattern, where the upper boundary has capped every rally for over three months. The resistance line is currently near $3,000, while the lower boundary started near $1,450 in early April and accelerated through $2,600 by late June.

The pattern briefly failed in mid-June when the price dropped through support and bottomed near $2,100. However, three weeks later, the market closed decisively back above that line, converting former support turned resistance back into a springboard. Since then, the price has marched steadily higher, compressing volatility against the wedge’s apex until earlier this week when it punched through the ceiling at roughly $3,030. At the time of the screenshot, the pair traded near $3,041, with a hand-drawn white projection plotting a near-vertical advance that crests just above $4,000.

The projection's height is derived from the widest section of the wedge, where the distance between the early-May trough and the mid-May swing high measures a little over $1,000. Adding that amplitude to the breakout point delivers a classical measured-move objective in the low-$4,000s, matching Kaleo’s target. Additionally, the price has reclaimed the psychological $3,000 handle on convincing momentum, turning what had been the midpoint of the range into fresh support. Intermediate friction zones appear near $3,344—the 0.618 Fibonacci retracement also known as the “golden pocket”—but the projection assumes these levels will offer little resistance should a “god candle” materialize.

Kaleo’s prediction comes amid a broader risk-on backdrop, with Bitcoin accelerating towards its record high near $123,000 from last week as investors embrace a steadier macro environment. For Ether specifically, enthusiasm has been amplified by an SEC filing revealing that Peter Thiel’s Founders Fund accumulated a 9.1 percent stake in Bitmine Immersion Technologies, the public company that has stockpiled more than 163,000 ETH—roughly half a billion dollars’ worth—as part of an aggressive Ethereum-treasury strategy. The twin tailwinds of macro-driven liquidity and high-profile venture endorsement reinforce Kaleo’s thesis that a “god candle” toward the $4,000 mark could ignite before the week draws to a close.

At the time of press, ETH traded at $3,225. Kaleo's prediction is based on technical analysis and market sentiment, and while it is optimistic, it is important to note that cryptocurrency markets are highly volatile and unpredictable. Investors should exercise caution and conduct their own research before making any investment decisions.