Ethereum (ETH) is maintaining its recent upward trend, dispelling short-term correction concerns. In the exchange derivatives market, where weak signals are not clear, market analysts are suggesting that Ethereum could potentially break through $5,000 (approximately 69.5 million won) as early as August.
Crypto analyst 'Byzantine General' posted on X (formerly Twitter) that "ETH is moving too strongly without correction" and "it is maintaining strength without a clear downward trend despite funding rates going negative". He emphasized the potential for an upward breakthrough moment.
The market typically judges that selling pressure is evident when funding rates fall below the benchmark. However, in this case, Ethereum has not turned to a downward trend under these conditions, interpreted as indicating strong buying pressure.
Benjamin Cowen, founder of ITC Crypto, through technical analysis, diagnosed that while ETH price has encountered resistance around the $4,000 (approximately 55.6 million won) level multiple times, it has sufficient potential to resume its upward trend after the massive decline in April 2025. He predicted that Ethereum could form a new all-time high between $5,700-$7,500 (approximately 79.3 million-104.25 million won) in this rising cycle.
Another analyst 'Crypto Gems' also predicted that ETH will break through $5,000 (approximately 69.5 million won) by the end of August. He cited historical trends, noting that "August in this bull market after Bitcoin halving has traditionally been strong for Ethereum".
Technical indicators are also positive. 'Crypto Xlarge' analyzed that Ethereum is currently testing the weekly resistance level of $3,900 (approximately 54.21 million won), and the Relative Strength Index (RSI) has not entered the overbought zone, indicating remaining upside potential. The downtrend since the 2021 peak is also considered to have been cleanly retested.
Ethereum marked a symbolic milestone by celebrating its 10th anniversary this week at the Nasdaq market close. Co-founder Joseph Lubin emphasized that they are "realizing the mission of onboarding traditional finance to DeFi and rebuilding the global financial system".
Additionally, institutional fund inflows continue steadily. Spot-based Ethereum ETF inflows are maintaining a record 19 consecutive days, and some corporate finance teams are showing long-term investment intentions through large-scale purchases.
Meanwhile, Eric Trump, the son of former President Trump, drew attention by again posting supportive comments about Ethereum. He indirectly continued his support by responding to observations that ETH has risen 36% since his previous mention.
Currently, Ethereum is trading at $3,860 (approximately 53.69 million won), up 1.2% in Asian trading hours. However, as this price level has acted as a resistance twice in the past week, breaking through it will be crucial for a potential August surge.
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