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Ethereum (ETH) has gone up by 17.1% in the past 7 days and has reached a level not seen since December 2021 at $4,200.
The price of the top altcoin rose strongly during the weekend as the token registered trading volumes exceeding $45 billion on Friday and Saturday.
That figure accounts for nearly 10% of ETH’s circulating supply and indicates strong buying interest and possibly a short squeeze in the making.
According to data from CoinGlass, short liquidations on Friday exceeded $300 million as multiple assets, including Bitcoin (BTC), hovered near their most recent all-time highs.
Ethereum has booked the strongest gains among the top 5 cryptocurrencies during this 7-day period and could be eyeing the $5,000 threshold as the Pectra upgrade has revamped the network’s operational framework.
$ETH – How the tables have turned.
Ethereum has finally broken out of its year-long bearish resistance.
It's been a ride, we touched this level late last year, failed to break higher, and dropped all the way to $1,400. Truly an emotional roller coaster ride.
Now that the… pic.twitter.com/PuZ1yAFtxO
— BATMAN ⚡ (@CryptosBatman) August 11, 2025
Crypto trader @CryptosBatman on X emphasized the importance of ETH’s breakout above the $4,000 level and highlighted that it marked the end of a bearish sideways consolidation phase.
“With this move, the previous ATH of $4,800 should be a walk in the park,” the pseudonymous user commented.
The crypto community as a whole echoed this bullish sentiment toward Ethereum as TedPillows, also a well-known character in this space, said that the top altcoin was “the fastest horse to bet on” at the time.
Meanwhile, data from Farside Investors shows that net inflows toward ETH managed to end the week on a strong positive note with $253.2 million being poured into these vehicles despite Monday’s and Tuesday’s outflows of $500 million.
Weekly Breakout Favors Move to $5,000 for Ethereum
Last week’s bullish breakout is significant from a technical standpoint as ETH had retreated off the $4,000 area three times already in the past year and a half.
Trading volumes last week exceeded the average, which further confirms the importance of the move.
The 9-week exponential moving average (EMA) has sent a buy signal upon crossing the 21-day EMA. The last three times that this buy signal popped up in this low time frame, ETH delivered gains of 30%, 104%, and 19%.
How high could ETH go this time? Since this last buy signal showed up in the weekly chart, ETH has surged by 67%. If Ethereum doubles as it did in one of those previous occasions, we could see it rising to $5,000 before the next big correction.
If that target is hit, that would mean a 16% upside potential for the top altcoin from its current levels. The improvements that the Pectra upgrade brought forth to the network’s functioning justify a bullish outlook and make Ethereum the next crypto to explode.
The Relative Strength Index (RSI) is already nearing overbought levels, which increases the odds of a pullback. However, it seems too early to call a top for ETH as the oscillator could still move to higher territory.
Meanwhile, as Bitcoin gets closer and closer to its most recent all-time high, one of the hottest crypto presales of this year, Bitcoin Hyper (HYPER) could explode once its layer-2 chain is launched.
Bitcoin Hyper (HYPER) Surpasses $8M Raised to Kickstart a New Era for BTC’s DeFi
Bitcoin Hyper (HYPER) is a layer-2 chain for Bitcoin that leverages the efficiency and scalability of the Solana network to unlock the untapped potential of BTCFi.
This project allows BTC holders to earn yield, stake, and lend their tokens without leaving the Bitcoin blockchain through the Hyper Bridge.
The bridge consists of a canonical Bitcoin address designated to receive BTC tokens from investors. With near-instant finality, every asset received is minted on the Hyper L2 to access the project’s DeFi ecosystem.
As top wallets and exchanges embrace the Bitcoin Hyper L2, the demand for this token should explode.
If you want to buy early and take advantage of its current discounted presale price, simply head to the Bitcoin Hyper website and connect your wallet. You can either swap USDT or ETH for this token or use a bank card to invest.
