Can ETH Break 4800 Again?

There is a possibility for ETH to break through 4800 USD again, and here is the specific analysis:

Technical Trend Support: From a technical analysis perspective, ETH has completed its pullback and re-entered an upward trend. The key resistance level is at 3936 USD. If this level is broken, ETH will open up upward space, targeting the 4175 USD Fibonacci extension level. Currently, ETH is in the early stages of the (v) wave of Elliott Wave Theory, and if the upward momentum continues, it may challenge the historical high of 4891 USD reached in November 2021.

Market Sentiment and Capital Inflow: From July 14 to 20, 2025, the spot trading volume of ETH reached 25.7 billion USD, surpassing Bitcoin, indicating strong bullish expectations for ETH in the market. If the U.S. approves a staking-based ETF for ETH, institutional funds will flow in further, driving prices up. In addition, on August 9, the cryptocurrency market rose across the board, with ETH surpassing 4200 USD, an increase of more than 8% within 24 hours, and the total market capitalization exceeding 500 billion USD, with strong market sentiment beneficial for further price increases.

Ecological Development Support: After the Ethereum Cancun upgrade, Gas fees dropped to below 1 USD, and activities in DeFi and NFTs have warmed up, with on-chain TVL exceeding 80 billion USD. Additionally, Ethereum plans to launch a cross-chain liquidity integration project by the end of 2025. If successful, it will significantly enhance the capital utilization efficiency of DeFi protocols, promote synergy between the mainnet and L2, improve the capital utilization rate and overall performance of the Ethereum ecosystem, increase ETH demand, and drive prices up.

Institutional Optimistic Forecasts: Several institutions are generally optimistic about Ethereum's price forecast for 2025, with target ranges concentrated between 8000 and 20000 USD. For instance, Steno Research predicts that the price of ETH will rise from 3400 USD to at least 8000 USD by 2025, while CoinMarketCap forecasts a target of 26200 USD, believing that technological upgrades and ecological expansion will drive ETH to become a core investment target for institutions. #ETH