Ethereum (ETH) Price Prediction: Ethereum Bulls Continue to Charge Toward $12K as Price Briefly Breaks $4,300

Ethereum price today surged past $4,300 for the first time since December 2021, fueled by record institutional inflows, strong technical momentum, and renewed optimism around staking-inclusive ETFs.

The rally has analysts debating whether this could be the launchpad for a historic push toward $12,000.

Market Overview: ETH Breaks Key Resistance

Ethereum (ETH) has climbed over 19% in the past week, liquidating more than $200 million in leveraged short positions. In the last 24 hours alone, ETH gained 7.5%, briefly trading above $4,300 before consolidating near $4,250.

Ethereum is approaching a critical 4-year resistance level, signaling a potential rally that could push prices toward $12,000. Source: @DeFiTracer via X

This surge has outpaced Bitcoin’s 3% weekly increase, widening ETH’s market dominance and pushing the total crypto market capitalization closer to $4 trillion. Popular on-chain analyst Tracer told followers on X that Ethereum is “about to break 4-year resistance” and that “$12,000 is not just a dream anymore.

Institutional Demand and Whale Accumulation

The latest rally is being driven by large-scale buying from both institutional investors and whales. Data from The Boss shows that SharpLink Gaming increased its ETH holdings to $2.12 billion after a major purchase on August 8.

SharpLink Gaming adds $85M in ETH, total holdings now $2.12B, signaling rising institutional interest. Source: The Boss via X

Whale activity has intensified, with a notable $40.5 million over-the-counter acquisition of 10,400 ETH in recent days. Standard Chartered’s Geoffrey Kendrick predicts that corporate treasuries could eventually hold 10% of Ethereum’s total supply — a shift that could rival the impact of spot ETFs.

Spot ETH ETFs themselves are enjoying unprecedented demand, posting twelve consecutive weeks of inflows totaling over $5 billion in July. On August 9 alone, ETH ETF inflows hit $461 million, according to analyst Ted.

Technical Analysis: Room for Growth

From a technical analysis perspective, Ethereum has cleared multiple resistance levels. After rebounding from strong support at $3,470, ETH broke above the $4,193 Fibonacci 1.618 extension — a level often associated with accelerated price moves.

ETH hits new highs, hinting at a big breakout, but buying now could be risky—explore other ETH ecosystem opportunities. Source: @CryptoMichNL via X

The Relative Strength Index (RSI) currently stands at 68.8, just below overbought territory, leaving room for further upside. The “three white soldiers” candlestick pattern since August 5 signals persistent buying pressure, while the MACD remains strongly positive.

Key short-term price levels to watch:

• Immediate resistance: $4,391 and $4,532
• Extended upside targets: $4,712 and $4,868 (ATH)
• Support zones: $4,193–$4,150, then $3,470

Fundamental Catalysts: ETF and Layer 2 Growth

Improving regulatory sentiment has also boosted Ethereum’s outlook. The SEC recently clarified that liquid staking does not violate securities laws, paving the way for potential staking-inclusive ETH ETFs from BlackRock, Fidelity, and Bitwise.

ETH sees a surge in new and momentum buyers, showing strong fresh demand and renewed interest from existing holders. Source: @glassnode via X

At the ecosystem level, Ethereum Layer 2 growth continues to accelerate, with rising transaction volumes on Arbitrum, Optimism, and zkSync. These scalability solutions are attracting new DeFi projects and NFT marketplaces, adding fresh demand for ETH.

Outlook: Can Ethereum Reach $12K?

While some analysts warn of potential retracement after such a rapid climb, the overall sentiment remains bullish. On-chain trends, ETF momentum, and macro breakout patterns all point toward continued gains.

Ethereum (ETH) was trading at around $4,215, up 0.52% in the last 24 hours at press time. Source: Ethereum Liquid Index (ELX) via Brave New Coin

Analyst Rekt Capital estimates Ethereum is only “50–60% through its macro uptrend,” leaving plenty of room for upside. If current momentum holds, ETH could challenge its all-time high of $4,868 in the coming weeks and potentially target $5,000 — with the more ambitious $12,000 forecast no longer seeming out of reach.