{"id":8634,"date":"2025-08-23T14:03:10","date_gmt":"2025-08-23T14:03:10","guid":{"rendered":"https:\/\/bitunikey.com\/news\/why-is-ethereum-price-going-up-today\/"},"modified":"2025-08-23T14:03:20","modified_gmt":"2025-08-23T14:03:20","slug":"why-is-ethereum-price-going-up-today","status":"publish","type":"post","link":"https:\/\/bitunikey.com\/news\/why-is-ethereum-price-going-up-today\/","title":{"rendered":"Why is Ethereum price going up today?"},"content":{"rendered":"
\n

Ethereum price is going up today, Aug. 23, and is hovering at its all-time high, continuing a strong comeback that started in April when it bottomed at $1,383.\u00a0<\/p>\n

\n
\n Summary<\/span>\n <\/div>\n
\n
    \n
  • Ethereum price jumped to a record high after Jerome Powell\u2019s speech at the Jackson Hole Symposium.<\/li>\n
  • It also jumped after retesting a crucial support level, its highest point in December last year.<\/li>\n
  • Ethereum ETF inflows resumed on Thursday and continued on Friday.<\/li>\n<\/ul><\/div>\n<\/div>\n

    <\/p>\n

    Ethereum (ETH) jumped to a record high of $4,877, bringing its market capitalization to $572 billion. This article explores some of the top reasons the ETH price is soaring.\u00a0<\/p>\n

    Ethereum price is rising because of its strong technicals<\/h2>\n

    The daily timeframe gives a technical reason why the Ethereum price is in a strong bullish trend. This chart shows that the coin dropped to $4,093 this week as the crypto market crashed. <\/strong>This was an important level as it coincided with the highest point in December last year.<\/p>\n

    Therefore, the Ethereum price jumped to a record high after completing the break-and-retest pattern, a common continuation sign. This happens when an asset breaks out and then retests the support and resistance level. It is one of the most common bullish continuation signs.\u00a0<\/p>\n

    Ethereum price also has strong technicals, including that it remains above the 50-day and 100-day moving averages. The Supertrend indicator is green, while oscillators have all pointed upwards. These indicators point to more gains, potentially to $5,000.<\/p>\n

    ETH price chart | Source: crypto.news<\/figcaption><\/figure>\n

    ETH price soared after Jerome Powell\u2019s speech\u00a0<\/h2>\n

    The other main reason why the Ethereum price is going up today is that investors cheer the rising odds that the Federal Reserve will slash interest rates in September.\u00a0<\/p>\n

    In a statement at the Jackson Hole Symposium, <\/strong>Powell hinted that he was concerned about the labor market after the recent nonfarm payrolls data.<\/p>\n

    The report showed that the economy added just 73,000 jobs in July while the unemployment rate rose to 4.2%. It also showed that the economy created fewer jobs than expected in the previous two months.<\/p>\n

    A change in tune by the Fed Chair would be bullish for Ethereum and other cryptocurrencies as it would help to shift assets from the low-risk bond market to the riskier ones.<\/p>\n

    Ethereum price also jumped as inflows into its exchange-traded funds rebounded. After shedding assets for four straight days, ETH ETFs added $287 million in assets on Thursday and more on Friday. Their cumulative inflows have soared to $12.4 billion, while the total assets have risen to $30.54 billion.<\/p>\n

    More data shows that the Ethereum ecosystem is doing well, with the total stablecoin supply jumping by 10% in the last 30 days to $147 billion and the total transactions rising to $880 billion in the same period. This growth has led to higher revenues for the project.<\/p>\n

    <\/p>\n

    \n
    \n <\/use> <\/svg> <\/div>\n

    \n Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only. <\/p>\n<\/p><\/div>\n

    <\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"

    Ethereum price is going up today, Aug. 23, and is hovering at its all-time high, continuing a strong comeback that started in April when it bottomed at $1,383.\u00a0 Summary Ethereum…<\/p>\n","protected":false},"author":1,"featured_media":8150,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-8634","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cryptocurrency"],"_links":{"self":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts\/8634","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/comments?post=8634"}],"version-history":[{"count":1,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts\/8634\/revisions"}],"predecessor-version":[{"id":8635,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts\/8634\/revisions\/8635"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/media\/8150"}],"wp:attachment":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/media?parent=8634"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/categories?post=8634"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/tags?post=8634"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}