Ethereum's (ETH) price recorded a new weekly price gap on the Chicago Mercantile Exchange (CME) between $4,092 and $4,261, following the strong rise it experienced in July. This gap, which appeared in early August, has now become the focus of traders and analysts who are monitoring its potential impact on price movements.
According to renowned analyst Rekt Capital, the charts show a clear green gap in Ethereum futures contracts, a historical pattern that often sees the price return to test before determining the next direction.
In late July, Ethereum reached $4,300, recording gains of 21% and raising its market value to over $520 billion, surpassing major companies such as Mastercard, Netflix, and Exxon Mobil. Analysts linked this rise to inflows into exchange-traded funds, supportive legislation for cryptocurrencies, and increased interest from large investors.
Massive corporate purchases
Analyst Rekt Fencer reported that companies invested nearly $10 billion in Ethereum over the past three months, noting a $500 million purchase by the President of the United States, which reinforces the trend towards institutional adoption. Billions of dollars have also flowed into exchange-traded funds, with anticipation for the launch of an Ethereum Staking ETF, prompting some forecasts of a price reaching $15,000 in the future.
In contrast, Ethereum co-founder Jeffrey Wilke transferred 9,840 ETH (valued at $9.22 million) to the Kraken platform, following months of transferring 105,737 ETH to new wallets, while retaining 95,897 ETH valued at approximately $401.6 million.
Analysts' price predictions
Analyst Michael van de Poppe indicated that Ethereum is approaching a new record high but is facing strong resistance, warning that any correction in Bitcoin could push the price into the range of $3,700 – $3,800, which could represent a buying opportunity. Meanwhile, expert Pierre Rochard pointed out that some companies tend to list their shares on traditional exchanges instead of issuing tokenized versions on the Ethereum network, opening discussions about Ethereum's role in asset tokenization.
Summary of the scene
The price gap between $4,092 and $4,261 is now below the current price, making it a potential level for a return if the market retracts. With continued institutional activity, high trading volume, and political support, Ethereum's next move will depend on buyers' ability to maintain momentum or face a correction. So far, the price remains close to its yearly highs, amidst close monitoring by investors.
