#ETHBreaks4000 #ETH🔥🔥🔥🔥🔥🔥 $ETH

Ether’s rally accelerated sharply over the past two sessions, with two strong surges propelling the token to its highest price in more than three years. On Friday, Aug. 8, ETH broke above $4,000 for the first time since December 2024, clearing a major resistance level on a spike in trading activity. The momentum carried into Saturday, Aug. 9, when ETH touched $4,200 on Binance at 5:06 a.m. UTC — a level last seen in December 2021 — before easing to around $4,165 at press time, marking a 6.57% gain in the past 24 hours, according to CoinDesk data.

Analysts attributed the move to a combination of technical breakouts and shifting market positioning. Miles Deutscher highlighted about $207 million in ETH short liquidations over the past day, based on CoinGlass data, noting that these forced buybacks fueled the price rally. He also described an “on-chain wealth effect” in the Ethereum ecosystem, where rising ETH prices make investors’ positions more profitable, prompting them to shift capital into smaller, higher-risk tokens for potentially larger gains. This, he said, can magnify rallies beyond ETH itself. Deutscher outlined a potential three-stage rotation pattern that could take months: an ETH-led mini altcoin season, a move into bitcoin possibly lifting BTC toward $120,000–$140,000 while altcoins lag, and finally a return to ETH and smaller tokens for a potential “blowoff” rally marking the cycle’s peak.

Michaël van de Poppe called Saturday’s surge to $4,200 a “wild move” and cautioned that buying at such levels carries heightened risk. While he believes ETH is setting up for a breakout toward all-time highs, he suggested that projects within the ETH ecosystem may deliver stronger percentage gains if momentum persists. He also noted that sustained ETH strength could pave the way for significant altcoin gains, benefiting portfolios positioned for a broader market rotation.

On-chain analytics platform Santiment observed that ETH’s move above $4,000 on Aug. 8 — its first since Dec. 16, 2024 — coincided with a sharp increase in bullish sentiment among retail traders. Mentions of “buying” and “bullish” roughly doubled those of “selling” and “bearish.” The firm warned, however, that such overconfidence can sometimes lead to short-term pauses even during strong uptrends.

Technical Analysis Highlights

  • Between Aug. 8 at 07:00 UTC and Aug. 9 at 06:00 UTC, ETH climbed from $3,914.59 to $4,160.29 — a 6% gain — trading within a range of $3,885.03 to $4,194.53.

  • The first breakout came at 13:00 UTC on Aug. 8, pushing prices above $4,000 on 646,459 ETH in volume, nearly triple the 24-hour average of 218,847 ETH.

  • A second surge at 05:00 UTC on Aug. 9 drove prices to a peak of $4,194.53 on 714,461 ETH in volume, again more than triple the daily average.

  • In the final hour of the session (Aug. 9, 05:19–06:18 UTC), ETH moved from $4,157.33 to $4,194.53 before retreating to $4,158.50, with $42.52 intraday swings.

  • Brief buying pushed prices above $4,190 before profit-taking set in, establishing support between $4,155 and $4,160, suggesting consolidation as larger players took profits near the $4,200 psychological level.