Ethereum Price Approaches Record High, While Samson Mow Warns of Possible Pullback

Highlights:

• Ethereum jumps to $4,313, overtakes Mastercard, now 13% below its all-time high.
• Analysts see $6K to $8K targets for ETH as bullish patterns emerge.
• Samson Mow cautions that ETH’s rally may slow as investors shift back to BTC.

Ethereum (ETH) has risen 1.9% in the last 24 hours to $4,300, extending its steady gains over the past week and month. Strong trading activity has lifted its market value to nearly $520 billion, pushing it ahead of Mastercard. With this achievement, ETH is now the 22nd largest asset globally. ETH is now just 13% below its record high of $4,878 set in November 2021.

$ETH flipped Mastercard✅

It's now the 22nd largest asset by MCAP! pic.twitter.com/KPZnnk5aFV

— Christiaan (@ChristiaanDefi) August 10, 2025

Ethereum Analysts See $8K Potential as Altcoin Season Heats Up

Analyst Lord Hawkins noted that breaking above the $4,200 resistance indicates buyers hold the advantage. He described it as a “Sign of Strength” based on Wyckoff theory. He noted that a small pullback, or “Last Point of Support,” could follow before prices accelerate in the “markup” phase when demand beats supply. Hawkins believes this phase could push Ethereum toward $6,000 and boost momentum in the wider market.

#ETH started a buy program. Could see $6k next pic.twitter.com/w8IUZrMDrw

— Lord Hawkins (@lorde_skinwah) August 9, 2025

Analysts Crypto Rover and Titan of Crypto said Ethereum’s breakout from a multi-year triangle signals a potential $8,000 target. They noted a similar 2020 breakout took ETH from under $200 to over $4,000 in just over a year, proving it can beat early targets.

#Ethereum Extremely BULLISH 🚀

Price & Lagging Span 🟠 above all lines and the Kumo Cloud, with all lines pointing up.

This is peak Ichimoku bullishness.#ETH the sleeping giant is waking up. pic.twitter.com/xcI2JoiJB5

— Titan of Crypto (@Washigorira) August 9, 2025

Analyst Ali stated that “altcoin season is officially here” as Ethereum’s net capital change exceeded Bitcoin’s for the first time this cycle. He believes this shows investors are ready to put more capital into major cryptocurrencies beyond BTC.

Ethereum $ETH net capital change has just surpassed Bitcoin $BTC. This is the clearest signal yet that altcoin season is officially here! pic.twitter.com/LNEbZ6nVOu

— Ali (@ali_charts) August 10, 2025

Samson Mow Says Ethereum Price Rally May Fade as Investors Shift to Bitcoin

On the other hand, Samson Mow, CEO of Jan3, believes that if Ethereum’s price gets high enough, many investors will cash out their ETH and move their funds back into Bitcoin. He believes this could stop ETH’s five-week rally. However, looking at past market cycles, the outcome might be different. Mow said many ETH holders, especially from the ICO period and early insiders, already own a lot of Bitcoin. According to him, they are moving this Bitcoin into ETH to boost its price, using new ideas like “Ethereum Treasury companies” to create hype.

Mow, a strong Bitcoin supporter, said, “No one wants ETH in the long run.” He added that breaking past its all-time high will be hard for ETH because the closer it gets to that level, the stronger the urge to sell. He called this the “Bagholder’s Dilemma.” 

Mow said Bitcoin supporters shouldn’t worry about the ETH/BTC ratio moving above its downward trendline. He explained that Ethereum has always been a way for some people to get more Bitcoin, saying it was true during the ICO days and remains true now. The ETH/BTC ratio, which measures Ether’s price in Bitcoin terms, is currently at 0.036, according to TradingView. This is double its five-and-a-half-year low of 0.018 in April, as ETH has climbed while BTC has mostly stayed flat. Ethereum supporter Anthony Sassano called Mow’s post “old school Bitcoin maxis,” attacking Ethereum. He added that it’s actually a bullish sign for ETH.

Let me explain what’s happening with ETHBTC.

Most ETH holders have a lot of BTC (ICO/insiders) and they are rotating that BTC into ETH to pump it on new narratives (Ethereum Treasury co’s).

Once they’ve gotten it high enough, they’ll dump their ETH, creating new generational…

— Samson Mow (@Excellion) August 10, 2025