Summary Momentum is ridiculously strong, with prices on their way to overbought on the weekly timeframe. The current weekly candle is blasting through the $4,000 level, leaving the previous all-time high resistance zone acting as a lone hurdle to new highs. Sentiment is more than euphoric, but this may keep on going for a while before it cools down. By Elior Manier Ethereum ( ETH-USD ) had been the missing piece in this all-around digital assets rally. The first run to $100,000 for Bitcoin ( BTC-USD ) had isolated the largest crypto at the top, leaving crypto aficionados on the waiting lines. On the other hand, when Ethereum shines, the whole altcoin market follows: with Ethereum just crossing above $4,700, Solana ( SOL-USD ) is back to $200, BNB ( BNB-USD ) is now worth more than Nike ( NKE ) and XRP ( XRP-USD ) is also just $0.40 from its ATH. Simple reminder that ETH was trading between $1,300 to $1,800 for a two-week period after Liberation Day (in April 2025). While US Indices like the Nasdaq are up 46% (still impressive to say the least), Ethereum is currently up 234% since its lows. One of the lessons of the story is to not forget the top assets of any asset class when markets get scared. This is where the best bargains are made. On the other hand, it may also happen that, as an investor, you catch a falling knife that never recovers. But luckily for Ethereum, that is far from the case. Crypto traders had seen Solana outperform due to its cheaper and more efficient blockchain throughout the end of 2024, but since then, Ethereum still shined from its no. 2 status, particularly as its ETFs started to be launched. Let's take a look at Ether's technical analysis, starting from higher timeframes to spot where we are. Ethereum Weekly Chart ETH Weekly chart, August 13, 2025 – Source: TradingView On this chart spanning all the way to the 2021 bull cycle, we see how close current trading is from the ETH all-time highs. Momentum is ridiculously strong, with prices on their way to overbought on the weekly timeframe. Overbought doesn't mean top, by the way. If you look at equity markets, for example, markets can keep rallying for a while before they see a correction. The current weekly candle is blasting through the $4,000 level, leaving the previous all-time high resistance zone acting as a lone hurdle to new highs. Some profit-taking may happen around previous ATHs; nevertheless, except for anything major happening, it is rare to see such price action top in an instant. Looking at a fibonacci extension of the 2024 move higher, we look at $5,200 and $6,000 being some potential key levels of interest in the event of new highs. ETH Daily Chart ETH Daily chart, August 13, 2025 – Source: TradingView Looking closer doesn't help much to see many hurdles to the ongoing squeeze in Ethereum. It seems that players really had left ETH on the sidelines too much and are now rushing to get their piece. Explosive moves can see explosive tops, but except for a divergence potentially forming, sellers are for now nonexistent. It will be essential to track the trading towards the 2021 all-time highs to see how markets react; time will tell when we get there. ETH 4H Chart ETH 4H Chart, August 13, 2025 – Source: TradingView Looking even closer, we spot a few levels of interest where markets could see some reaction. There is some small ongoing selling at 2021 levels of interest (look at the dotted lines on the chart), but for now it is nothing major. Sentiment is more than euphoric, but this may keep on going for a while before it cools down. Levels of interest for ETH trading: Support Levels: $3,500 Support Zone $4,000 Main Pivot $4,200 consolidation Zone Resistance Levels: $4,772 2021 intermediate top $4,700 to $4,900 All-time high resistance zone $4,870 2021 record. Safe Trades! PS: Hope you had read this piece I wrote in the beginning of June . Don't be afraid of a missed opportunity, there will always be more – Make sure that your risk is in control! Original Post Editor's Note: The summary bullets for this article were chosen by Seeking Alpha editors.
