Ethereum News Today: Ethereum Surpasses $3700 With 6.25% 24-Hour Gain

Ethereum has surpassed the $3,700 threshold, marking a significant milestone in its recent price trajectory. According to HTX market data, the price is currently trading at $3,710, reflecting a 6.25% gain over the last 24 hours [1]. This move has drawn attention from traders and analysts, who observe patterns akin to Ethereum’s multi-year consolidation triangle—a formation similar to Bitcoin’s path from 2017 to 2020, which some interpret as a precursor to a larger upward move [2]. The level of $3,700 has long been considered a key psychological and technical threshold, and its breach has been interpreted as a bullish signal by many in the crypto space.

Following multiple attempts to break above $4,000, Ethereum retreated to around $3,350 before stabilizing and rebounding toward $3,700. Analysts attribute this volatility to increased sell pressure and the presence of a significant sell wall. However, the recent recovery has been accompanied by strong volume and structure, which are often seen as indicators of a more substantial price movement [3]. Institutional activity has also played a role in supporting the price, with ETF inflows and treasury acquisitions contributing to a more stable market environment [4].

Some forecasts suggest that if the current bullish momentum continues, Ethereum could potentially challenge the $5,000 level in the third quarter of 2025. However, analysts caution that external factors such as regulatory pressures and macroeconomic instability could limit the asset’s upside potential, potentially capping its price within a $3,700–$5,000 range [5]. The short-term technical outlook remains focused on key levels such as the 100 EMA ($3,617), which analysts consider a critical support zone. A successful reclamation of this level could validate a breakout toward $3,700–$3,750, reinforcing the broader bullish narrative [6].

Weekly charts show Ethereum pushing past $3,500 with strong volume, signaling increased buying pressure and a potential buildup for a larger move. While the market remains cautious about near-term volatility, the cumulative price action and technical indicators suggest a turning point may be forming. Whether Ethereum sustains its move above $3,700 will depend on a combination of market sentiment, on-chain activity, and broader macroeconomic trends. The coming weeks will be pivotal in determining whether this breakout leads to a sustained rally or another period of consolidation.

Source:

[1] Ethereum News Today: Ethereum Near $3700 Breakout as ... (https://www.ainvest.com/news/ethereum-news-today-ethereum-3-700-breakout-bitcoin-2020-pattern-emerges-2508)

[2] Ethereum Price Analysis: Is ETH Gearing Up for a $4K Breakout? (https://cryptopotato.com/ethereum-price-analysis-is-eth-gearing-up-for-a-4k-breakout)

[3] Ethereum Bulls Target $5000 in Q3 But Remittix Offers a ... (https://news.az/news/ethereum-price-prediction-ethereum-bulls-target-5-000-in-q3-but-remittix-offers-a-potential-30x-gain)

[4] Ethereum Price Prediction: Will ETH Reach $17K by 2026? (https://www.analyticsinsight.net/ethereum/ethereum-price-prediction-will-eth-reach-17k-by-2026)

[5] Ethereum (ETH) Price Prediction for August 5 (https://coinedition.com/ethereum-eth-price-prediction-for-august-5-2025/)

[6] $ETH is Coming Alive, Pushing Past $3500 with Strong ... (https://www.binance.com/en/square/post/27831959525090)