Ethereum is once again in the spotlight of analysts and investors. Although it's currently trading at $3,625, reflecting a 6% decline, several indicators suggest we could be witnessing the beginning of another major rally — similar to the one in 2021 when ETH surged to its all-time high.
🔁 History May Repeat: ETH Targeting a Return to $4,800?
Ethereum had an exceptionally strong July. While Bitcoin only gained 8%, ETH soared by 48%, according to CoinMarketCap data. This marks a sharp turnaround compared to July 2023 and 2024, when Ethereum ended the month in the red.
Now, August could also mark a turning point.
Traditionally, August has been a weaker month for Ethereum — last year saw a 22% drop. But back in 2021, this very month kicked off a massive rally that eventually pushed ETH to $4,868, still its all-time high.
Today, Ethereum is once again pressing up against the same resistance level it faced back then. If it can break through the $4,000 barrier, that would be the clearest sign that a repeat of the 2021 bull run is underway.
📈 Should a similar 35% rally occur, ETH could surge beyond $4,800 — surpassing its historical peak.
🧠 Network Activity Surges: ETH Wallets Hit Two-Year High
Despite today's broader crypto market downturn, interest in Ethereum remains strong. According to fresh data from analytics platform Sentora, more than 931,000 wallets interacted with ETH on Thursday — a level not seen since September 2023.
Meanwhile, whales are back. Addresses holding 10,000 ETH or more have returned to levels last recorded in 2023. This pattern usually signals new buying activity rather than simple wallet reshuffling — a reliable indicator of genuine demand.
🔥 Reduced Supply, Stronger Price Pressure
As more ETH is moved off exchanges and into wallets, supply on the market shrinks — giving bears less room to drive the price down. If this trend continues, Ethereum could follow a similar trajectory to 2021, when its price jumped by roughly 35% within weeks.
#Ethereum , #ETH , #Altcoin , #CryptoAnalysis , #CryptoPredictions
Stay one step ahead – follow our profile and stay informed about everything important in the world of cryptocurrencies!
Notice:
,,The information and views presented in this article are intended solely for educational purposes and should not be taken as investment advice in any situation. The content of these pages should not be regarded as financial, investment, or any other form of advice. We caution that investing in cryptocurrencies can be risky and may lead to financial losses.“