Ethereum breaks 4,000 and marks new highs to the current cycle – Crypto News

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Cryptocurrencies have found a decent rally amid yesterday's strong session, propulsed by the Ether breaking 4,000 for the first time in 2025 and some positive news.

Effectively, US President Trump just passed an executive order allowing Cryptocurrency investments to be counted into American 401Ks (retirement accounts) which boosted sentiment around the longer-run cryptocurrency investment mindset.

There has been a few hypothesis, which don't sound too unrealistic, of BlackRock preparing for a XRP ETF in the follow-up from creations of ETFs for Ethereum, and the most recent addition, Solana.


However, today's session seems to be a bit more mixed as Bitcoin steps into some key levels and some altcoins seem to not have got as much traction as the past month.

Ethereum did drag a few of its peers higher yesterday but more bullish momentum would be welcome for some minor coins to come back to the past week highs .

Let's take a look at what the daily crypto picture is looking like and a few technical charts including Ethereum, Bitcoin, XRP and ETH/BTC.

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An overlook on the Crypto Market

Crypto Daily Performance, August 8, 2025 – Source: Finviz

Ethereum is leading to the upside with OP and APT (Ethereum competitor) also doing some heavy lifting.

On the other side though, XRP and XLM are seeing some heavy selling flows, but despite the 3% correction, the magnitude is not too severe (cryptos can be even more volatile than this)

Ethereum 4H Chart

Ethereum 4H Chart, August 8, 2025 – Source: TradingView

ETH Bulls have held the 3,500 Main support, retested last Sunday and have since built higher lows, and led to a break above the 4H 50-period MA ($3,720).

The slow and steady grind higher helped to break the downward trendline that formed from the past week highs at $3,944 – Preceding resistance at that zone may act as immediate support.

The breaching of the $4,000 landmark did not last long, but the action is still consolidating above the preceding highs.

RSI Momentum is currently close to overbought territory, so the rest will be to see if this morning's rally does not materialize into a fakeout.

Key levels of interest:

• intermediate Resistance around $4,000
• Daily highs $4,011
• Immediate Pivot Between $3,700 to $3,750
• $3,500 Main Support Zone

Bitcoin 8H Chart

Bitcoin 8H Chart, August 8, 2025 – Source: TradingView

Bitcoin is currently testing its 117,000 Key Pivot Zone.

Bulls need to break the ongoing downwards channel to create more chances of a new all-time highs, look at the reactions at the highs of the channel.

They will at least have to break the 50-period MA (117,050) acting as immediate resistance and serves as a key barometer for bull/bear momentum.

Coming from 112,500 lows last weekend, buyers did gather some intermediate strength – breaking the current bear formations would point to a test of the past all-time highs.

Key levels of interest:

• All-time Highs to break 123,150
• Major Resistance 120,000 to 122,000
• 126,500 to 128,000 Potential Resistance

• Immediate Pivot Between $116,000 to $117,000 (Confluence with 4H MA 50)

• $113,000 Mini Support and weekend lows
• Major Support Zone previous ATH 110,000 to 112,000

XRP 4H Chart

XRP 4H Chart, August 8, 2025 – Source: TradingView

Ripple found some more than decent buying momentum in yesterday's session which has found mean-reversion sellers at the preceding $3.39 all-time highs.

Despite the ongoing selling, there is a triangle formation holding the #4 altcoin between a $3.06 support and the most recent highs.

For any downward retest, look at the 4H MA 50 and 200 that recently acted as support.

Key levels of interest:

• Previous all-time Highs - $3.39 imminent resistance
• Current ATH resistance around $3.66
• $4.00 to $4.30 Potential Resistance

• Current $3.00 Major Pivot Zone (Confluence with 4H MA 50 and 200)

• Resistance turned Support - 2.65
• Lower bound of triangle formation $3.05 to $3.10

Solana 8H Chart

Solana 8H Chart, August 8, 2025 – Source: TradingView

Solana is still evolving within its ascending channel formation from April lows.

One thing to check is whether buyers can withhold the middle of the channel which acts as immediate pivot, around the $175 level.

RSI momentum is bullish but some resistance is showing ahead, with the 8H MA 50 acting as immediate resistance ($176.27)

Key levels of interest:

• 8H MA 50 immediate resistance ($176.27)
• $185 Momentum resistance
• Cycle swing high Resistance 200 to 205

• $175 Key pivot level

• $160 Pivot turned Support (confluence with Ascending channel lows
• $150 Psychological level
• Main Support $125 to $132

ETH/BTC check-up

ETH/BTC 8H Chart, August 8, 2025 – Source: TradingView

ETH/BTC maintains its run higher, which is a very encouraging sign for the broad crypto market.

Altcoins will have to follow higher as the most recent rise in ETH hasn't coincided with a general minor coin rally, a development to watch closely.


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