The post Ethereum Price Eyes $5,000 as Transactions Hit 1-year High appeared on BitcoinEthereumNews.com.

Ethereum price eyes a potential pump to a new all-time high with a bull pennant setup indicating signs of a 134% rally to $5,000. This market setup also coincides with an uptick in total weekly transactions, which reached a new ATH. At the time of writing, the price of ETH/USD was $3,984 with a slight daily gain of 4.51%. Ethereum Price Eyes 134% Gains to New ATH, Says Analyst According to a price setup highlighted by a market pundit, the Titan of Crypto, a bull pennant points at $5,000 as the next price target for Ethereum (ETH). However, this setup is dependent on whether Ethereum can successfully break out from the $4,000 level, where the trend has been rejected four consecutive times, as shown below by Ali_charts. Ethereum Price Action | Source: Ali Martinez, X The main confirmation to watch out for is whether Ethereum price manages to flip the $4,000 level into a major support zone. As for now, the downside buffer between $3,500 and $3,600 is preventing further price drops. ETH/USD Source: TradingView Bull Fractal Points to $4,400 on the Ethereum Dominance Chart Meanwhile, a trader on X highlighted a crucial resistance level on Ethereum dominance, above which we could witness major liquidity flows from Bitcoin to Ether. ETH/BTC aims to consolidate enough strength below the resistance level. According to Ted Pillows, a similar pattern played out in 2021 on the 1-day ETH/BTC chart, resulting in a 30% rally. If it plays out successfully, the analyst said the price would cross above $4,400 in Q3 2025. This target mirrors an Ethereum price forecast that appeared on The Coin Republic. Ethereum & Bitcoin Moment In Focus Earlier today, markets expert Tom Lee told CNBC that Ethereum had built a solid foundation to reach $16,000. According to Lee, the artificial…

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Filed under: News - @ August 8, 2025 5:33 pm