Market Movement Summary
ETH Reaches New Heights
• Ethereum surged to $4,887.59 on August 23, 2025, surpassing its 2021 record
• Current price stands at $4,742.04, reflecting 10.19% 24-hour growth
• Market cap expanded to $573 billion with $81.9 billion trading volume
Key Drivers
• Institutional capital: BlackRock's substantial $233.6M ETH purchase signals confidence
• Short squeeze catalyst: $350M in liquidations accelerated the rally from $4,290 to $4,850
• Overwhelming bullish positioning: 70.22 long/short ratio shows dominant upside bias
Technical Outlook
• Primary support zone established at $4,228-$4,250 range
• Overbought RSI suggests potential short-term consolidation
• MACD shows decreasing momentum despite overall bullish trend
• 85.45% community sentiment remains strongly positive
• Consider balanced approach with take-profit targets at psychological $4,880 and $5,000 levels$ETH