#HotJulyPPI $ETH
Why Traders See Ethereum Pushing to a New ATH by August’s Close
Optimism Flooding ETH’s Uptrend
Market watchers have noticed the surge in confidence—data from Polymarket shows traders pricing in a 64% chance of $ETH touching $5,000 by August 31, with 90% convinced it’ll at least reach $4,800. On top of that, 87% believe a record-breaking high is imminent before month’s end. This isn’t just blind hype—it’s a snapshot of market conviction shaped by collective sentiment.
What’s Fueling Ethereum’s Momentum
Currently hovering under $4,600 after a hotter-than-expected PPI report shook broader markets, ETH remains in bullish territory. Price action is being underpinned by strong chart setups, renewed institutional participation, and anticipation of a friendlier macroeconomic backdrop.
Crucial Price Levels to Watch
The $4,631 zone is emerging as the battleground. A decisive move above could set the stage for a rapid push to $5,000+:
Bearish Scenario: Failure to hold may see ETH revisiting the $4,000–$4,400 region before another leg higher.
Bullish Scenario: Regaining $4,631 could pave a near-direct route to fresh highs.
Analyst Block_Diversity also sees a potential retreat into $4,080–$4,380 as healthy consolidation before a rally continuation.
Why This Period Is Pivotal
Collective Confidence: Betting market odds this high for a new ATH are rare, showing unusually strong consensus.
Macro Winds at Ethereum’s Back: Any dovish signals from central banks could boost ETH’s appeal as a risk-on play.
Institutional Flows Returning: From NFT volume recovery to ETF activity, liquidity is streaming back in—fuel for a breakout.
The Road Ahead
Ethereum’s current momentum is powered by technical strength, blockchain activity, and investor sentiment. The deciding factor? Whether $4,631 turns into solid support. Hold it, and the bulls could sprint toward $5K; lose it, and we may see a quick breather before the next charge.
