Ethereum’s $7k Gambit! 🚀💸

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The cryptocurrency market, ever fickle and capricious, stirred from its slumber on a most auspicious Friday, August 22, following a most auspicious address from the esteemed Mr. Jerome Powell of the Federal Reserve, which did much to invigorate the spirits of investors. The price of ETH, that most mercurial of assets, led the charge among the top 10 largest cryptocurrencies, ascending with a grace most commendable.

After a week of fluctuating fortunes, the price of ETH, ever the romantic, reclaimed and surpassed its former all-time high of $4,878, a feat achieved in the distant past of 2021. A most audacious prediction, from a prominent figure in the crypto sphere, now dares to suggest that if ETH crosses its record high, it may yet ascend to $7,000, a sum most tantalizing.

What’s Next For ETH Price?

On the fateful day of August 22, a certain Mr. Joao Wedson, CEO of Alphractal, shared a most intriguing prognosis on the social media platform X. He posited that ETH, if it fails to breach its record high, may soon find itself in another phase of fear-driven turmoil, before embarking on a new era of re-accumulation. A most dramatic turn, one might say.

Mr. Wedson noted that algorithmic trading activity, ever the fickle companion, clusters around the $7,000 to $7,500 range, a harbinger of potential re-accumulation. This pattern, he suggests, is akin to the cyclical shifts of yore, where market makers, ever the shrewd operators, absorb liquidity, suppress volatility, and prepare for the next influx of capital. A most calculated dance, if you will.

The Alphractal founder further observed that the price movements of ETH have coincided with the cyclical pattern of Bitcoin’s market dominance. As seen in previous fractal cycles, ETH tends to absorb a significant share of Bitcoin’s capital flow, typically after 28 days of BTC price consolidation. A most predictable sequence, if one dares to believe in such things.

Mr. Wedson’s data suggests this pattern may be unfolding once more, raising hopes for an extended rally. It is worth noting, however, that ETH has now reached a new all-time high, implying that the altcoin may bypass the usual downside volatility and plunge directly into a new growth phase. A most convenient arrangement for the optimist.

Yet, the crypto expert, ever the cautious soul, urged investors to conduct their due diligence, for the market data, though informative, only considers the typical behavior of Market Makers during cycle transitions. A reminder, perhaps, that even the most promising forecasts may be as fleeting as a summer breeze.

Ethereum Price At A Glance

As of this writing, the price of ETH hovers around $4,716, a most respectable increase of nearly 9% in the past 24 hours. According to CoinGecko, the altcoin is up by more than 11% in the last seven days. A most commendable performance, if one is inclined to trust the whims of the market.

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2025-08-24 04:00