Ethereum could smash all-time highs today originally appeared on TheStreet .

Ethereum (ETH) is trading in the $4,300–$4,400 range. This is very close to its all-time high (ATH) of $4,878 reached in November 2021.

A number of analysts have commented that the market conditions are right for a potential retest of the level as soon as today, with strong technical momentum and increased institutional buying.

Institutional activity is adding to the bullish outlook.

Top crypto market commentator VirtualBacon pointed out that on August 8, about $460 million flowed into ETH exchange-traded funds (ETFs), compared to a lower liquidity Bitcoin flow of $400 million.

He also noted that ETF and treasury-owned ETH have increased from $24 billion in July to $33 billion, reducing available supply on exchanges to its lowest level since 2016.

On August 12, BlackRock bought over $12 billion worth of ETH. Moreover, Bitmine Immersion is soliciting $20 billion to acquire additional ETH, as per an SEC filing.

The recent rally for Ethereum above the $4,000 benchmark is a turning point given that the asset has struggled to break out of this price point historically, said crypto analyst AlejandroBTC.

Join the discussion with CryptoWendyO on Roundtable here .

Meanwhile, analyst Benjamin Cowen argues that while ETH could run to the prior all-time highs, a September pullback is in the charts.

As per TradingView, ETH's price has been in a steady uptrend through August, with ETH's Moving Average Convergence Divergence (MACD) — a commonly used momentum indicator — showing a strong bullish crossover.

When an upward price momentum is occurring, the MACD is said to have a bullish crossover when the blue "MACD line" crosses above the orange "signal line," while the histogram bars go positive.

As of press time, ETH is trading around $4,501.43 , up 5.4% in the past 24 hours, with daily trading volume at $51.53 billion. However, the asset is still shy of its previous all-time high of $4,891.70 by nearly 8%.

Ethereum could smash all-time highs today first appeared on TheStreet on Aug 12, 2025

This story was originally reported by TheStreet on Aug 12, 2025, where it first appeared.