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Ethereum Price Analysis: ETH Boosts 8% Daily to Paint New August Highs

ETH/USD: Ether finally breaks August Resistance

Key Support Levels: $3350, $3200, $3000.


Key Resistance Levels: $3540, $3600, $3700.

Ethereum has been trapped inside a consolidation period since it established resistance at $3350 during mid-August. A bearish signal did not allow the cryptocurrency to overcome resistance. 618 Fib Retracement and ended up forming a symmetrical triangle from there.

ETH had been trading inside this triangle pattern for the past fortnight as it dipped as low as $3000. It finally managed to break the consolidation today as it surged above the $3350 August resistance and passed $3400.

ethusd-aug31-min
ETH/USD Daily Chart. TradingView.

ETH-USD Short Term Price Prediction

Looking ahead, the first resistance now lies at $3540 (1. 618 Fib Extension). This is followed by $3600, $3700 (1. 414 Fib Extension – blue), and $3790 (bearish . 786 Fib).

On the other side, the first support lies at $3350. This is followed by $3200 (20-day MA), $3000 (. 236 Fib Retracement), $2890, and $2740 (50-day MA).

The RSI has rebounded from its midline last week, and is now heading higher as momentum picks up.

ETH/BTC – ETH Breaks Descending Price Channel

Key Support Levels: 0. 07 BTC, 0. 0691 BTC, 0. 068 BTC.


Key Resistance levels: 0. 072 BTC, 0. 0733 BTC, 0. 0754 BTC.

ETH also performs well against BTC. It looks like it will head back towards the August highs at 0. 0733 BTC. ETH has not broken beyond 0. since mid-August. 07 BTC and established a descending price channel.

The price channel saw ETH fall as low as 0. 0651 BTC, where it found support at the 100-day MA and a .5 Fib. Yesterday, ETH broke through the falling price channel and ended the short-term downtrend. Today, it broke 0. 07 BTC and approached the 0. 072 BTC (bearish . 618 Fib) resistance.

ethbtc0aug31-min
ETH/BTC Daily Chart. TradingView.

ETH-BTC Short Term Price Prediction

Moving forward, the first resistance lies in 0. 072 BTC (bearish . 618 Fib). Then, follow by 0. 0733 BTC, 0. 0754 BTC (1. 272 Fib Extension), 0. 0765 BTC (bearish . 786 Fib), and 0. 08 BTC.

On the other hand, the first support is now at 0. 07 BTC. Then, follow by 0. 0691 BTC (July highs), 0. 068 BTC (20-day MA), and 0. 066 BTC.

The RSI also rebounded today from the midline, indicating that the buyers are still in control of market momentum and that the bullish momentum has increased again.

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Cryptocurrency charts by TradingView.

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Ethereum

Meme Coin Prices Pump as Official Trump, dogwifhat, BTC Bull Token Post Gains

Although Bitcoin and Ethereum are continuing to chop up the crypto traders attempting to squeeze profits from minor price moves, the meme coin market seems to be rebounding. Following a slow slide from a total market value of $137 billion in December to $67 billion this February, meme coins are now benefiting from a cumulative 10% boost.

This has enabled tokens like Official Trump ($TRUMP) and dogwifhat ($WIF) to post significantly higher gains, backed up by bullish technical analysis patterns.

At the same time, a unique new meme coin – BTC Bull Token ($BTCBULL) – has entered the picture, with an ICO that some investors are rotating their profits into.

TRUMP and WIF Break Out of Classic Chart Patterns

Within financial markets of all kinds, technical analysts have established a huge range of ways to anticipate significant price movements. When volatility is high (as it always is in crypto), chart patterns consistently prove themselves as highly reliable options.

As we’ll discover when analyzing TRUMP and WIF, meme coin traders are especially fond of simple and easy-to-follow analysis.

For TRUMP (a coin that has managed to sustain its key support around $14), this week’s bullish meme coin market conditions have set up a descending triangle pattern that TRUMP’s price successfully broke through today. Loyal holders have been rewarded with a boost of approximately 20% so far, including a push above the $20 level:

Since this chart is tracking the price’s progression in 4-hour intervals, the following days will determine how far TRUMP can surge beyond this point. Another dip towards $14 could be on the cards – but so could an extended bullish move, which is not uncommon in the world of meme coins. As long as Donald Trump himself remains a solid supporter of the Web3 industry, TRUMP will continue to be a token to watch.

$TRUMP Horizontal levels & Ranges to watch. pic.twitter.com/dXukaZy7Vw

— Daan Crypto Trades (@DaanCrypto) February 14, 2025

Meanwhile, dogwifhat has been subject to extensive online criticism, due to its association with key influencers who have repeatedly upset the project’s community.

The negative sentiment around WIF has caused it to fall around -88% from its recent peak value of $4.83, which was set in mid-November 2024. Since December, WIF has dipped on an almost daily basis – and its most recent potential recovery is most clearly visible on its 4-hour chart:

Like TRUMP, WIF has managed to set up its own descending triangle breakout – but because this pattern is much shorter, the resulting pump (also roughly 20%) may be less likely to last. At the very least, WIF bulls will want the $0.55 price level to hold, which could lead WIF into a sideways range with an upper limit of $1 or $2.

$WIF #WIF – Nice falling wedge breakout here on 4hr.


82cents my next resistance.


If we reclaim that then back at $1 + pic.twitter.com/iwX4xQY99P

— The Cryptomist (@Thecryptomist) February 14, 2025

Unless TRUMP and WIF really get fired up, meme coin fans will be much better off looking at trending new ICO projects that can offer investors the potential for major gains.

Could BTC Bull Token ($BTCBULL) be the Next Breakout Meme Coin?

Across the Web3 industry, the ultimate fate of almost every project is connected to the price performance of Bitcoin ($BTC). This means that if you believe in the future potential of blockchain technology and its real-world applications, you’re also a Bitcoin believer by default.

For supporters of both Bitcoin and meme tokens, BTC Bull Token ($BTCBULL) is a perfect match – and an important potential addition to their portfolio.

The Bitcoin Bull Token’s roadmap is both straightforward and rewarding, and involves a mix of real BTC airdrops and strategic BTCBULL token burns that will occur when BTC’s price hits particular targets.

For example, BTC airdrops (exclusively for BTCBULL holders) will take place when Bitcoin gets to $150,000 and $200,000. BTCBULL tokens will also be burnt when BTC reaches $125,000, $175,000, and $225,000 – reducing the BTCBULL supply, and potentially boosting its price.

At a Bitcoin price of $250,000, BTCBULL holders will also receive a BTCBULL token airdrop, immediately boosting the size of their holdings.

On the technical side of things, BTCBULL is a meme coin based on the Ethereum network – so to keep the real BTC airdrop process as convenient as possible, BTC Bull Token has partnered with Best Wallet.

Using Best Wallet’s user-friendly smartphone app, BTCBULL holders can track their entire crypto portfolio and receive their BTC airdrops directly through Best Wallet itself, as the platform is directly connected to the Bitcoin and Ethereum blockchains.

As word about the BTC Bull crypto presale is already spreading fast, it’s raised more than $1.4 million in just a few days. The BTCBULL price is fixed at $0.00236 for now, but the presale will soon progress through a series of stages that will see the price rise until BTCBULL launches on crypto exchanges, and the wider market takes over.

Additional BTCBULL tokens can also be acquired through a dedicated staking protocol, which rewards stakers at a dynamic APY rate of approximately 287% pa.

Visit BTC Bull Token Presale

Disclaimer: The above article is sponsored content; it’s written by a third party. CryptoPotato doesn’t endorse or assume responsibility for the content, advertising, products, quality, accuracy, or other materials on this page. Nothing in it should be construed as financial advice. Readers are strongly advised to verify the information independently and carefully before engaging with any company or project mentioned and do their own research. Investing in cryptocurrencies carries a risk of capital loss, and readers are also advised to consult a professional before making any decisions that may or may not be based on the above-sponsored content.

Readers are also advised to read CryptoPotato’s full disclaimer.

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Ethereum

Spot Ethereum ETF Demand Outpaces Bitcoin’s – Is a Flippening Coming?

Following the solid end in January, the spot Bitcoin ETFs have shown some mixed reactions to the macroeconomic uncertainty that started with US President Trump’s tariffs.

In contrast, the Ethereum ETFs have enjoyed the past week by registering more net inflows than their BTC counterparts for the first time.

Ethereum ETFs See Substantial Demand

Recall that the Ethereum ETF start in late July last year was anything but impressive as investors were in a hurry to move their funds out of the Grayscale Trust, which was now converted into a spot exchange-traded fund. Unlike the case with BTC, though, where they transferred most of the amount toward IBIT and other ETFs, all Ethereum products were in the red for many weeks.

However, things changed a few weeks after the US elections, and the ETFs had a 19 consecutive day period with only net inflows or at least no reportable outflows. A similar but smaller streak was recovered in mid-January and in the past week and a half as well. January 29 was the last date for net outflows from the spot ETH ETFs, with a minor $4.7 million exiting the funds.

Since then, it’s been well in the green or no outflows. The past week alone saw $83.6 million poured in on Monday, a remarkable $307.8 million on Tuesday, and a more modest $18.1 million on Wednesday, as well as $10.7 million on Thursday. Friday was a no-action day.

This puts the total for the week at $420.2 million, which is quite impressive given the economic uncertainty. In the meantime, though, ETH’s price has tumbled by more than 14% and now struggles to remain above $2,600.

Different Bitcoin Story

The spot Bitcoin ETFs, which recently celebrated their first birthday, had a different week. On Monday, the first business day following the tariffs against China, Mexico, and Canada, investors withdrew $234.4 million from the funds, followed by another $140.2 million on Thursday.

The positive numbers on Tuesday ($340 million), Wednesday ($66.4 million), and Friday ($171.3 million) managed to offset the losses, and the BTC ETFs finished the week at $203.8 million in net inflows. However, it signals a major shift (or flippening, if you will) between the Ethereum ETFs and the Bitcoin counterparts.

Within this timeframe, BTC’s price also went south hard, dumping to under $92,000 on Monday, but has lost a more modest 3% on a weekly scale, compared to ETH’s 14% drop.

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Ethereum

Ethereum L2 Taiko and DoraHacks Are Launching the Largest Anonymous Community Vote in Crypto History

[PRESS RELEASE – Singapore, Singapore, February 7th, 2025]

Taiko, an Ethereum Layer 2 network, and DoraHacks, the largest hacker movement in crypto, are spearheading the biggest anonymous community vote ever conducted in Web3. The initiative aims to advance decentralization in community governance through the Taiko Grant Factory Hackathon.

The Taiko Grant Factory Hackathon is designed to unleash developer creativity—driving innovation, interactive applications, and projects with real-world impact. After months of intense competition, the finalists are now heading into the voting phase—one of the biggest steps yet toward large-scale, community-driven decision-making.

At the core of this vote is Minimal Anti-Collusion Infrastructure (MACI), a game-changing privacy-preserving and collusion-resistant voting mechanism originally conceptualized by Ethereum co-founder Vitalik Buterin. Vitalik has long pointed out the fundamental flaws of traditional voting systems—fraud, collusion, privacy leaks—and MACI is Ethereum’s answer to fixing them. Dora Factory, the decentralized governance protocol, carried Vitalik’s mission and shipped the best MACI product the market has seen.

For the final round of Taiko’s Grant Factory Hackathon, voting will be executed entirely on-chain via MACI, ensuring encrypted ballots, zero-knowledge proof integrity, and protection against vote buying and collusion. Users will submit their votes through smart contracts, with timestamps recorded on-chain, making the process transparent yet private. At the end of the voting round, results will be revealed by the designated operator, ensuring both fairness and credibility. As an incentive, Taiko is distributing 50,000 Trailblazer points to participants, which will later translate into an airdrop.

“This is decentralization in action,” says Ben Wan, Taiko’s Community Director. “We’re thrilled to bring MACI to this scale and grateful to the community for participating in Taiko’s growth. The future of Ethereum is decentralized, and we’re here to make that happen—together.”

This vote isn’t just big—it’s historic. Over 920,000 participants are taking part, making it the largest whitelisted anonymous community vote in Ethereum’s history

The voting event has attracted significant participation, with more than 920,000 individuals expected to take part, making it one of the largest whitelisted anonymous community votes in Ethereum’s history.

Steve Ngok, Partner at DoraHacks, adds: “We’re incredibly excited to work with Taiko on launching the biggest MACI-powered vote in Ethereum history. DoraHacks and Dora Factory have committed resources to expanding Ethereum’s mission—advancing MACI for decentralized governance and privacy protection. We look forward to exploring MACI’s full potential alongside Taiko and its dynamic community.”

About DoraHacks

DoraHacks is the world’s largest hacker movement and a leading global platform for open-source funding, hackathons, and developer grants. Since its inception in 2014, DoraHacks has empowered 200,000 developers and funded 20,000 innovative startups in multiple frontier tech verticals in Web3, AI, Quantum, and more.

For more information on the Taiko Grants Program, users can visit https://taiko.xyz/grant-program.

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