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ETH Reached 4,624 USD, Could This Be The Final Push To Reach A New ATH?
Ethereum reached $4,624.55 on August 13, 2025, with a 7% increase in 24 hours and a 27% increase over the past week. This cryptocurrency has hit $4,647 during the session, the closest level recorded in November 2021. This is only the second time in Ethereum's history that it has surpassed $4,600.
According to market data, Ethereum is currently about 5% lower than its all-time high. Traders are closely monitoring the $4,647 level as an important resistance threshold. A decisive close above this level could pave the way for higher targets in the long term. The support levels identified are $3,944 and $3,400 on the weekly chart, supported by the upward trend line from mid-2022. Reduce Liquidation Clusters Above Current Price Data from Coinglass shows that Ethereum has surpassed many liquidation thresholds above $4,600, reducing the immediate resistance level. The liquidation heatmap indicates fewer price clusters on the rise, while liquidity remains concentrated around $4,400–$4,450.
Analyst Cas Abbé noted: "There are not many liquidation stocks that are increasing in price, but buyers still dominate." Abbé outlined two potential short-term scenarios: a drop in price to the range of $4,400–$4,450 before breaking out to a new high, or a direct rise to an all-time high, followed by a deeper correction that lasts several weeks. Cash Flow Out of Exchanges and ETF Operations The simple moving average (SMA) for 30 days of Ethereum for net flow across all exchanges has remained negative in recent weeks. As of August 12, the SMA30 is at -40,000 ETH, reflecting an average net outflow of 40,000 ETH per day from exchanges over the past month.
Market observers believe that this trend is partly due to purchases of Ethereum ETF. "The ETF effect is driving buying pressure and pushing prices higher," blockchain analyst Burak Kesmeci stated. Historical data shows that prolonged negative net flows often correspond with rising price volatility, as decreasing exchange balances may limit selling pressure. Market Psychology and Short-Term Outlook The recent price increase and declining selling liquidity are boosting the optimistic sentiment of traders. However, analysts warn that important resistance levels still remain and market volatility could increase if a correction occurs after the breakout. While some traders predict a short pullback before a price increase, others anticipate a surge straight up to all-time highs. The next few trading sessions are expected to determine whether Ethereum will consolidate near the current level or continue moving towards new records.