Ethereum Surges Above $4,050 Following $200 Million Investment Announcement
Ethereum surpassed the $4,050 resistance level on August 8, achieving its highest price since December 2024 with a 6% daily increase. The rally began on August 7 after Sharplink Gaming announced a $200 million direct offering supported by institutional investors, aiming to expand its Ethereum treasury to over $2 billion.
- ETH traded between $3,864 and $4,065, with daily volumes rising 35% to $47.1 billion.
- Institutional adoption of ETH is increasing, particularly among US corporate investors.
- Closing at $4,045, ETH printed a bullish engulfing candle above the Bollinger Band's upper band, indicating rising volatility.
- The Relative Strength Index (RSI) reached 68.99, suggesting caution as it approaches overbought territory.
- A daily close above $4,100 could lead to rapid gains towards $4,350 and potential all-time highs.
- If ETH fails to maintain a close above $4,000, it may revisit the $3,695 to $3,719 support zone.
As Ethereum solidifies its status among institutional investors, the Best Wallet presale is gaining traction, raising over $14 million and providing incentives for new market entrants amid Ethereum's anticipated breakout phase.
Ethereum price action | CoinMarketCap Aug. 8, 2025
Ethereum price forecast