Is Ethereum Price Breaking Out: Here’s How ETH Could Hit $7,800 By August?

• Ethereum price has re-entered the key $2,250–$4,105 range after a liquidity-driven rebound.
• With the RSI at a healthy 55 and a bullish MACD crossover, ETH shows signs of continued upward momentum.
• If Ethereum breaks the $4,105 resistance, Fib levels suggest a potential move to $7,800 by August.

The Ethereum price is up 3.5% in the last 24 hours to trade at $2,731 as of 5:48 a.m. EST on a 13% surge in daily trading volume to $26 billion. As May comes to an end, talk of Ethereum price making a new all-time high has increased. But can this king of altcoins hit $7,800 by August?

Ethereum Price Defies Downtrend, Re-enters Range

ETH is trading at $2,729 on this chart, with a weekly candlestick showing some wild action. The price received a major boost from a liquidity run below a 392-day consolidation zone, and is now back in the range between $2,250 and $4,105.

This zone has been a battleground, with ETH testing resistance around $4,000 multiple times in the last year while facing rejection. On the bottom side, ETH received support from the $2,250 level twice before bears pushed price below it during the March bear run.

Now that ETH is back in the range, the asset might be preparing for another rally to test the $4,000 resistance for a fourth (and potential final) time.

ETHUSDT Chart by TradingviewThe chart also shows a 50-day simple moving average (SMA) sitting at $2,729. While this SMA has been a solid support during past dips, it is currently acting as a dynamic resistance for Ethereum.

Now that ETH must clear this resistance to create some room to run. The next big level to watch is that $4,105 high from late 2024, when ETH hit this peak before pulling back. If it smashes through that, we’re talking blue skies.

Momentum Indicators Signal Continued Rally — 46% Gains In Sight?

The Relative Strength Index (RSI) is at 55.51, which is chill—not overbought, not oversold. This means ETH has fuel in the tank to keep climbing without overheating

The MACD (Moving Average Convergence Divergence) is showing a recent bullish crossover, which signals that upside momentum on ETH may continue for some time, going into June for a potential 46% rally. Plus, that “Liquidity Run” label on the chart, where ETH dipped below $2,500 recently, suggests big players might’ve grabbed some cheap ETH before this pump.

This means smart money is backing this current rally, and you never bet against market makers.

Can Ethereum Price Reach $7,800 by August?

Now, let’s dream a little. If ETH price holds above the 50-day SMA and breaks that $4,105 level, the next major resistance is way up around $7,857 based on historical all-time highs and Fib extensions. That’s a 184% move from the current price, which sounds wild, but ETH has done wilder stuff before

Back in 2021, it went from $700 to $4,800 in less than a year. With the crypto market heating up and ETH’s fundamentals like staking, DeFi, and layer-2 scaling still strong, this is not a pipe dream.

ETHUSDT Chart by TradingviewIf Bitcoin keeps rallying (it often leads the pack), ETH will likely follow. Ethereum’s ecosystem is the backbone of DeFi and NFTs, and more usage means more demand for ETH. What’s more, if global markets stay bullish and inflation fears keep pushing folks into crypto, ETH could see some serious FOMO inflows.

But let’s not get too hyped. Risks are real, as network congestion or a broader market crash could derail this train. That $2,250 support is key; if ETH dips below, we might see a retest of $1,300 before any mooning happens.

So, is ETH breaking out? The chart says yes. If it holds this momentum, $7,800 by August isn’t just possible, it’s plausible.