On August 8, $ETH broke through the resistance at $4050 after Sharplink Gaming announced a direct placement of its shares worth $200 million aimed at increasing its Ethereum treasury to over $2 billion.
Key Highlights:
Institutional support from Sharplink Gaming confirms Ethereum's status as the preferred corporate reserve asset for treasury diversification strategies.
The technical breakout of ETH above the upper Bollinger Band indicates a continuation towards the resistance zone of $4100–$4350.
The growth of institutional adoption creates favorable conditions for sustainable price growth, despite the RSI approaching overbought levels.
On August 8, Ethereum surpassed the resistance level at $4050, reaching its highest mark since December 2024. The digital asset demonstrated a strong daily growth of 6%.
The rise in ETH price was initially triggered on August 7 by a significant statement from a strategic treasury investor. Sharplink Gaming confirmed a direct placement of shares worth $200 million, supported by global institutional investors. The company reported that the funds raised will be directed to expand its Ethereum treasury to over $2 billion, confirming its commitment to ETH as a primary reserve asset.
Ethereum Price Dynamics | CoinMarketCap, August 8, 2025.
Markets $ETH responded positively. According to CoinMarketCap, the price of Ethereum fluctuated between a low of $3864 and a high of $4065, while daily trading volumes increased by 35%, reaching $47.1 billion at the time of publication.
As institutional adoption of Ethereum grows, especially among corporate investors from the U.S., short-term traders may continue to bet on an increase, anticipating a swift influx of capital.
Ethereum Price Forecast: Breakthrough at $4350 amid strengthening RSI.
Ethereum closed trading on August 8 at $4045, forming a clear bullish engulfing candle that broke the upper Bollinger Band at $4000. This is the first confident close of ETH above the upper band since late July, indicating increased volatility and momentum in favor of bulls. Notably, earlier this week, ETH restored the middle support line at the 20-day moving average at $3719, which may serve as a solid base for consolidation as traders prepare for further growth.
Currently, ETH is trading in the upper volatility range from $4009 to $4350, with the RSI rising to 68.99. The Bollinger Bands have started to widen again, indicating a resumption of directional momentum. As ETH firmly positions itself above both the middle line and the upper band, the price dynamics suggest continuation rather than exhaustion; however, the RSI approaching 70 requires caution.
If ETH confirms a daily close above $4100, it will signify a technical breakout from a two-week consolidation range. With minimal resistance in the $4100-$4350 range, Ethereum could quickly accelerate towards historical highs. The Relative Strength Index (RSI) is likely to enter overbought territory, but this may not hinder bullish momentum amid rising trading volume.
On the other hand, if the daily closing price does not hold above $4000, $ETH is likely to reach the support zone of $3695–3719 again, with the middle Bollinger line and former resistance becoming support once more. A breakthrough below $3695 would open ETH's path to the $3600–3500 range, where the lower Bollinger Band currently provides immediate support. A close below this level would return the trend to neutral.