Will Ethereum Price Hit ATH in the Next 24 Hours?

Ethereum price today has rallied sharply, up 7.66% since yesterday and over 27% in the past week. Now trading at $4,628, it is just 5.5% shy of its all-time high of $4,891.70. Trading volume surged 44.7% to $63.4 billion, while institutional inflows hit unseen levels as ETFs absorbed $1.02 billion in a single day. It is worth noting that the numbers have dwarfed Bitcoin’s $178 million. 

Successively, Polymarket data shows a 75% probability that ETH reaches ATH by August 31. But since the ATH is just 5.5% away, can the ETH price claim a fresh high in the next 24 hours? Read this detailed Ethereum price analysis for all details.

On-Chain Data Shows Bullish Accumulation?

Ethereum’s exchange netflow by CryptoQuant reveals notable outflows in recent days. This is with over 100,000 ETH leaving centralized exchanges on August 11–12 alone. Large outflows typically signal that investors are moving funds to cold wallets rather than preparing to sell, reducing immediate supply pressure.

This aligns with growing institutional demand. ETH ETFs now hold 2.6% of the circulating supply, and corporate treasuries such as SharpLink Gaming and BitMine added over $19 million in ETH holdings. Combined with a positive funding rate of +0.0093%, leverage is shifting toward long positions, suggesting confidence in higher prices.

ETH Price Analysis:

The 4-hour chart I’ve shared shows ETH price breaking above $4,400 resistance and testing $4,678 intraday highs. Momentum indicators are still strong, with RSI at 74.3, indicating slight overbought conditions but not yet extreme. Immediate resistance lies at $4,878, just below the previous ATH. A decisive break could open a path to $5,067.

A short squeeze has amplified the rally. Abraxas Capital faced $244.8M in losses. With $188.7M in ETH shorts forced to cover as ETH cleared $4,500. Plus, the $56.1B open interest is still in play, high leverage could drive another 5-15% move before consolidation.

Support sits at $4,402 and $4,040, with strong buying interest evident on dips. Unless ETF inflows abruptly slow or derivatives funding overheats, ETH looks poised to challenge its ATH in the very near term.

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