Will Ethereum Price Recovery Surpass the $5,000 Barrier?
- The Ethereum price breaks out from a triangle pattern, signaling a 45-month accumulation zone.
- The current market momentum increases ETH’s price potential to challenge the all-time high resistance of $4,868.
- ETH futures open interest hits a new high of $35.5 billion, suggesting that investors are positioning themselves for significant price movements.
The second-largest cryptocurrency by market capitalization, Ethereum, bounced another 3.2% during Wednesday’s U.S. market hours. The buying pressure today likely followed investors’ optimism towards a potential interest rate cut in September. The recovery momentum gained further traction as the asset recorded a steady outflow from exchanges amid a record high in open interest, signaling the increasing engagement of traders to bet on ETH’s future price. Is the Ethereum price ready for $5,000?
Ethereum Price Recovery Powered by a Flood of Bullish Signals
In the last two weeks, the Ethereum price witnessed a strong rebound from $3,355 to $4,759, the current trading value, projecting a 41.8% jump. Subsequently, the asset market cap bounced to $572.36 billion.
The buying pressure gained momentum from aggressive inflows into the spot ETH ETFs, which recently hit a milestone of $1.01 billion in flows across all funds on Monday. The increase in institutional adoption, exchange outflow, and open interest is further reinforcing the bullish market sentiment.
In a recent post, crypto analyst burakkesmeci highlighted that over 1.2 million ETH exited crypto exchanges in just one month. This outflow, tracked through the SMA30 (30-day Simple Moving Average), is wavering in the negative region, indicating a continuous trend of ETH moving off exchanges.
This indicates a high conviction from investors as their assets are moved to private or cold wallets, reducing the risk of them selling in the open market. As of August 12th, 2025, the SMA30 for Ethereum is at -40K ETH, meaning an average daily outflow of 40,000 ETH over the last month.
Ethereum’s Netflow SMA30 | CryptoQuant
Adding to the bullish note, the ETH futures open interest has recently climbed to a new high of $35.5 billion following the price rally. An increasing open interest suggests that traders are positioning themselves for a more substantial market shift, with many expecting the Ethereum price to surge higher.
If the trend continues, the OI jump could support the broader bullish sentiment in the market and bolster the continued recovery.
Furthermore, Ethereum’s options market signals a strong bullish bias as traders continue to pour money into calls, with premium consistency outperforming puts. For August 8th, approximately $82 was paid for a call option, indicating a growing demand for upside exposure.
ETH: Option Premiums
This bullish tilt remained intact on August 11, with an additional $31.5 million in call premiums. The aggressive bets in call options overputs indicate that traders are anticipating a continued surge in the ETH price.
Ethereum Price Poised For A New High
On August 8th, the Ethereum price provided a decisive breakout from the resistance trendline of a symmetric triangle pattern. From November 2021 to the recent breakout, the coin price resonated within this pattern’s two converging trendlines to drive a long accumulation trend.
The post-breakout rally has now pushed the ETH price over 18% to trade at $4,745, inches from challenging the all-time high barrier of $4,868.
A potential breakout from this pattern would further accelerate the bullish momentum for a higher value, according to the traditional pivot levels. The ETH price could face its next significant resistance at $5,861, followed by $6,800.
ETH/USDT – 1d Chart
These resistances could halt the anticipated recovery and drive short pullbacks for buyers to regain bullish momentum.
That said, if the triangle breakout holds true, the ongoing recovery should chase a high of $7,931.
Also Read: Cardano Price Eyes $1 Breakout Amid Bullish Patterns and LTH Accumulation
