Ethereum News Today: Ethereum Surpasses $4,200 Mark for First Time Since December 2024

Ethereum ($ETH) briefly surpassed the $4,200 level on August 9, 2025, marking the first time since December 2024 that the price had reached this threshold. The surge came after a 500-day consolidation phase, with the price climbing 7.67% on the day and closing at $4,205 [8]. This move reignited bullish sentiment among investors, who had been anticipating a breakout after a prolonged period of sideways trading.

Technical indicators supported the upward momentum, with Ethereum’s Relative Strength Index (RSI) reaching 72, a level often associated with overbought conditions. Additionally, a bullish MACD crossover confirmed a shift in momentum to the buyers, reinforcing the strength of the rally [1]. The asset also broke through the $4,238 resistance level, further signaling potential for continued gains in the near term.

Despite the strong price action, analysts have issued warnings about entering new positions at current high levels. Michaël van de Poppe, a well-known crypto trader and analyst, highlighted that while Ethereum appears to be forming a breakout and approaching new all-time highs, the current price environment may not be favorable for new entries [8]. Instead, he suggested that investors consider alternative opportunities within the broader Ethereum ecosystem, such as Layer-2 solutions or ETH-based DeFi protocols, which could offer superior short-term returns.

The market remains divided on whether Ethereum will continue its upward trajectory or experience a consolidation phase before a new leg higher. Closing above $4,200 on a weekly time frame would bring the price closer to Ethereum’s all-time high of $4,827, a level last seen during the peak of the previous bull market [1]. However, the path to that milestone is expected to face resistance, with $4,430 identified as a key level for the next potential test. A successful breakout above that level could push the price toward $4,800 [1].

At the same time, some analysts have noted the possibility of a short-term pullback, with the critical support level at $4,093 seen as important for maintaining the bullish trend. The current overbought conditions suggest a potential for a correction, and traders are closely monitoring how Ethereum behaves around these key levels [1].

The broader market is also watching for signs of an emerging altseason, with Ethereum’s performance viewed as a potential catalyst for a wider rally in the cryptocurrency space [8]. As the market digests the recent price action, the focus will remain on whether Ethereum can sustain its momentum and continue breaking through key resistance levels in the weeks ahead.

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

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