Ethereum (CRYPTO: ETH) has surged 19% over the past 24 hours, with prominent pseudonymous trader DonAlt putting a $4,000 to $10,000 target on the rally.

DonAlt posted on X that his target for Ethereum is $4,000, and $10,000 if price holds strong at that level. 

“I’ll probably sell halfway into the rally as usual, you guys will call me washed and rinse repeat,” he wrote. 

He anticipates the crowd will call him wrong either way, adding that nothing ever changes in how these cycles play out.

The veteran trader gained in recognition after having publicly called for a breakout despite criticism from bearish analysts.

OVcrypto flagged on X that Ethereum is starting to break out of a nine-year downtrend against Bitcoin (CRYPTO: BTC), a structural shift that would mark one of the most significant ratio moves in crypto history if confirmed.

Ethereum ETF Inflows Near 2026 Weekly Record

Ethereum ETFs pulled in $291.47 million through Aug. 19 with two trading days still remaining, already making this one of the strongest weeks of the year . 

Daily inflows hit $189.15 million on August 19 alone, led by BlackRock’s ETHA (NASDAQ:ETHA) fund with $122.12 million according to SoSoValue. 

The week is within reach of the 2026 record of $479.04 million set in the week ending January 16.

What the Derivatives Data Shows

Ethereum open interest grew 9.70% to $30.22 according to Coinglass meaning traders are rebuilding positions rather than sitting out. 

Volume exploded 337.62% to $119.49 billion with options volume up 411.74%, confirming a genuine volatility expansion.

Of the $1.18 billion liquidated in the past 24 hours, $1.04 billion came from short sellers who got caught offside, while longs only lost $134.58 million. 

The positioning data reinforces that: the long/short ratio sits at 1.07 with top traders sizing up their long bets more aggressively than retail participants.

ETH Price Analysis: $2,125 Support, $2,317 Resistance

ETH holds at $2,289 Thursday, breaking above the 200-day EMA at $2,125 for the first time since the January highs near $3,400. 

The Parabolic SAR flipped bullish at $1,856, well below price, and the 20-day, 50-day, and 100-day EMAs all stack below as fresh support in a clean bullish structure for the first time in months.

Hold above $2,125 on any pullback and the breakout confirms. Losing it stalls the move.

Key levels for ETH:

  • $2,317 — session high, immediate resistance
  • $2,125 — 200-day EMA, must hold as new support

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