ETH Hits $4,624, Could This Be the Final Push to New ATH?

3 mins mins

Key Insights:

Ethereum breaks $4,600 for second time ever, edging closer to historic all-time high levels.
Liquidation clusters thin above $4,600, signaling reduced resistance for Ethereum’s potential price breakout.
Exchange outflows and ETF activity drive strong Ethereum buying pressure, keeping upward momentum intact.

coincu A giant Ethereum coin balancing on a rocket tip while tr f4673f1e 55a0 469a 9773 0288a69bacb6 — *Ethereum Nears All-Time High as Buying Pressure Builds*

Ethereum’s price reached $4,624.55 on August 13, 2025, with a 24-hour gain of 7% and a 27% increase over the past week. The cryptocurrency touched $4,647 during the session, a level last seen in November 2021. This marks only the second time in history that Ethereum has crossed $4,600.

Ethereum Breakout 🚀 $ETH has touched $4,600 for the first time since Nov 2021 only the 2nd time in history this level has been reached.

Now just 4.5% away from a new All-Time High.

4 years later… Ethereum is back in the big leagues.🔥 pic.twitter.com/u3lnaWmMf3
— Crypto Patel (@CryptoPatel) August 13, 2025

According to market data, Ethereum is now about 5% below its all-time high. Traders are closely watching $4,647 as a key resistance level. A decisive close above this point could open the path toward higher targets over the long term. Support levels are identified at $3,944 and $3,400 on the weekly chart, supported by a multi-year ascending trendline from mid-2022.

Reduced Liquidation Clusters Above Current Price

Data from Coinglass shows Ethereum has cleared many liquidation levels above $4,600, reducing immediate overhead resistance. The liquidation heatmap indicates fewer clusters to the upside, while liquidity remains concentrated in the $4,400–$4,450 range.

Analyst Cas Abbé noted,

“There are not many liquidation clusters left to the upside, but the buyers are still dominating.”

Abbé outlined two potential short-term scenarios: a pullback to $4,400–$4,450 before a breakout to a new high, or a direct move to all-time highs followed by a deeper correction lasting several weeks.

Ethereum Liquidation HeatMap 🚨$ETH hit almost $4,700 today and still trading above $4,600.

There are not much liquidation clusters left to the upside, but the buyers are still dominating.

As I said earlier, ETH new ATH is highly likely to happen this month.

Here are my 2… pic.twitter.com/aqlfP8D4Al
— Cas Abbé (@cas_abbe) August 13, 2025

Exchange Outflows and ETF Activity

Ethereum’s 30-day Simple Moving Average for all-exchange netflows has remained in negative territory in recent weeks. As of August 12, the SMA30 stood at -40,000 ETH, reflecting an average daily outflow of 40,000 ETH from exchanges over the past month.

AD 4nXcQKIHNcwhRh3tWp9fJpAmm03Q5XvhZFj3G81rFZLFtae9vRjFdVMLpfqGX R kc9KumpeWR YJVW5i1MFN3Sn1Bcx8JbEwGxr4ijdzhFf zxUyCF0LL2p1 82LYXoA9Ks zwJ0A?key=n8a9SJPHn4TyE3BaY9foRQ — *Ethereum Exchange Netflow, Source: CryptoQuant*

Market observers attribute this trend in part to spot Ethereum ETF purchases. “The ETF effect is fueling buying pressure and pushing prices higher,” reported blockchain analyst Burak Kesmeci. Historical data shows sustained negative netflows often correspond to upward price movement, as reduced exchange balances can limit selling pressure.

Market Sentiment and Short-Term Outlook

Recent price momentum and reduced sell-side liquidity are reinforcing bullish sentiment among traders. However, analysts warn that key resistance levels remain and market volatility could increase if a correction follows a breakout.

While some traders anticipate a short pullback before a rally, others expect a straight move to all-time highs. The next few trading sessions are expected to determine whether Ethereum consolidates near current levels or pushes toward new records.

DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.