Ethereum (Eth ($ 3,502.60)) fell more than 6% in the last 24 hours, slipping $ 3,800 to about $ 3,630 after briefly touching the mark.
Pulback comes after a strong July Rali, with a growth of more than 50%of the world’s second largest cryptocurrency, which is its best monthly advantage in three years.
Despite the recent dip, on-chant data suggests that the uptrend may not end. The latest analysis of Glasanode indicates a powerful new all-time high (Atth ($ 0.03))
Glassnode indicates $ 4,900 ethereum target
Glassnode, Ethereum is trading near its March 2024 levels, yet unrealistic profits are complicated. This deviation implies a large reverse capacity because investors are not yet cashing, indicating confidence in further gains.
The firm’s arysis suggests that if the untrue profit reaches the same level in 2024, the ETH will grow to $ 4,900, mark a new Ath and test significant psychological resistance at $ 5,000.
This couple shows how investors treat atheriums, from a special token to a main financial property.
Open interest and ETF demand rapidly strengthens outlook
The Rising Open Interest further supports the bullish case of the atherium. Crypto futures data indicates that more traders are opening long positions on ETH, which reflect the expectations of further reverse. Ethereum’s OI has been an important contributor to the wide Altcoin market rebounds.
In addition, the Spot Etherium ETF, Espectorly Blacrock’s Ishras Etherem ETF, saw over 4 billion dollars in July 2025, increased the total ETF holdings to $ 21.85 billion. Surge underlines the increasing position of the atherium among institutional investors and can increase future price movements.
The convergence of strong technology, investor optimism, and instant Lives, with facing atherium at $ 4,000, paint a pressure approach. If the speed continues, ETH may soon chart a new area above its previous high level.
Cover image from Chatgpt, Ethusd Chart from Trading Person
