16-8-2025 – Ether (ETH) reached a multi-year peak of $4,792 this week, climbing 45% from its August 3 low of $3,354. The cryptocurrency is now consolidating just below its all-time high of $4,867, with technical analysis pointing to a bullish continuation pattern known as a bull flag, which could drive prices toward $6,100—a potential 34% gain.
The bull flag formed after ETH surged 126% from June 22 to August 14, breaking through resistance at $3,770. Traders are now eyeing the $4,700 level, a critical hurdle for further gains. However, the bull flag pattern’s success rate is only about 54%, tempering expectations. Supporting the bullish outlook, Glassnode data shows ETH supply on exchanges has dropped to a nine-year low of 12.36%, with only 18.5 million ETH remaining. This scarcity, coupled with 35.7 million ETH staked (30% of total supply), suggests a potential supply shock driven by strong demand from ETF issuers and corporate treasuries, as noted by trader Merlijn The Trader.
Institutional interest, particularly through spot Ethereum ETFs, and robust network activity are fueling optimism. Yet, the volatile nature of cryptocurrencies underscores the need for caution, as price predictions remain speculative.Investors should monitor ETH’s ability to break $4,700 and ongoing exchange supply trends for signs of sustained momentum.
