Explaining why Ethereum’s ATH is now a matter of ‘when,’ not ‘if’

Key Points

1. Ethereum surged by 21.45% between August 4th and 10th, with realized profits clearing $1 billion as ETH reached $4.2K.

2. A 60%+ short skew in the derivatives market contrasts with bullish institutional inflows, including $1.08 billion into Ethereum spot ETFs led by BlackRock.

3. On-chain data shows a decline in staked ETH (60,000 ETH unstaked in five sessions) and a 170K ETH drop in exchange reserves, signaling tightening liquidity.

4. Key resistance levels are noted at $4,344 and $4,700, with $1.32 billion in ETH shorts at risk if the price breaks higher.

5. The RSI momentum divergence suggests Ethereum may avoid a typical pullback, supporting a sustained upward trend.