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The Ethereum price has edged down a fraction of a percentage in the last 24 hours to trade at $4,307 as of 12:51 a.m. EST on a 31% surge in trading volume to $39.3 billion.
This comes as ETH profit realization (7-day SMA) has climbed to $553 million per day.
$ETH profit realization (7D SMA) peaked at $771M/day in July, above Dec ‘24 levels, and is now ramping up again at $553M/day. Profits from long-term holders match Dec ‘24 levels, but short-term investors are realizing far more gains, driving the current wave. pic.twitter.com/fsoBOrUTyF
— glassnode (@glassnode) August 11, 2025
On-chain data suggests that active profit-taking from short-term traders is fueling the latest surge.
At the same time, activity from long-term holders remains relatively steady, a balance that could shape ETH’s price behavior in the weeks ahead.
With ETH 11% away from its all-time high of $4,878, can the altcoin leader set a new record price amid the sell pressure from short-term investors?
Ethereum Price Breaks Out: Bulls Eye $5,500 As Momentum Surges
The ETH price has been in a strong bullish trend since early April 2025, trading within a rising channel pattern and recently breaking toward the upper boundary.
Ethereum’s price has surged above both the 50-day Simple Moving Average (SMA) at $3,271 and the 200-day SMA at $2,529, confirming a strong uptrend.
The current level at $4,307 has also surpassed the key Fibonacci retracement level of $3,955, with upside momentum still intact, according to GeckoTerminal data.
Meanwhile, the Relative Strength Index (RSI) is at 73.47, signaling overbought conditions that could trigger short-term pullbacks, but also confirming intense buying pressure.
Moreover, the Moving Average Convergence Divergence (MACD) shows a wide bullish spread, with the blue MACD line well above the orange signal line, supporting continued upward momentum.
The Chaikin Money Flow (CMF) is positive at 0.13, indicating sustained capital inflow into ETH, which also supports the Ethereum on-chain data.
If bullish momentum persists, the breakout from the channel could propel the price of Ethereum toward the -0.618 Fibonacci extension near $5,540, representing an upside potential of roughly 28% from current levels and a new ATH.
However, given the overbought RSI, minor consolidations or retests of support around $3,349 (0.236 Fib level) may occur before the next major leg up.
Meanwhile, investors are piling into a new meme coin that’s inspired by SPX, called TOKEN6900 (T6900), that aims to outdo its predecessor’s 135k% pump from its all-time low.
Influential YouTube channel 99Bitcoins, with over 723k subscribers, says T6900 could surge 100X after launch.
TOKEN6900 Presale Nears The $2 Million Mark
Meme coin SPX6900 (SPX) dropped 9.9% in the last 24 hours to breach the $1.80 level, but it is still over 135K% up from its all-time low.
Meanwhile, its more chaotic, unfiltered, and potentially 1,000x counterpart, TOKEN6900, has already bagged over $1.83 million in presale funding, offering a cheaper entry into everything SPX6900 stood for, and more.
Where SPX6900 provided satire, TOKEN6900 is full-blown financial heresy, fusing TradFi mockery with 69-fueled absurdity and slamming it straight into the meme coin arena, where most projects have forgotten what being a meme coin means.
The crypto’s fixed supply, 930,993,091 tokens, includes only one more token than SPX6900.
Inspired by 2000s nostalgia and ’69 energy, it makes it clear that it has no utility. It doesn’t track GDP, oil reserves, or corporate earnings. Instead, it tracks what it calls “vibe liquidity.”
It’s not built on fundamentals, but rather on delusion, irony, and the collective hallucination of terminally online traders.
It has a hard cap of $5 million, and a massive 80% of the total token supply is available for its presale. With the presale now nearing the $2 million milestone, T6900 is closing in on its launch.
breathe in. buy token6900. breathe out. pic.twitter.com/UY5AWyKiFY
— Token6900 (@Token_6900) August 7, 2025
Priced at $0.006925, you can buy T6900 tokens with ETH, BNB, USDT, USDC, or a bank card. The end price is $0.007125, so there’s no time to lose before the price starts to rise and the hard cap is reached.
Investors looking to secure the best deal will want to buy before the next presale price hike in less than 20 hours.
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