Ethereum Hits $4K, Eyes $20K as 375% Rally Looms

• Ethereum surges past $4,000 to its highest level since late 2021.
• Historic price channel prompts analyst predictions of a massive rally.

On August 9, 2025, Ethereum (ETH) surged past $4,000 to its highest level since late 2021, a milestone that has reignited bullish sentiment. Based on historical trends and technical chart patterns, some analysts are now predicting a potential rise to $20,000.

Experts note that Ethereum is operating within a clearly defined long-term price channel, leading to speculation about a potential breakout. For instance, one trader highlighted a rare chart setup that could drive a 375% rally for ETH/USD, a scenario in which Ethereum would climb to the channel's upper trend line and establish new all-time highs.

This optimism is bolstered by positive technical indicators and what analysts describe as increased institutional activity and a market short squeeze. Furthermore, according to one analyst, a sustained weekly close above $3,900 would be a critical signal of more short-term gains.

However, Ethereum continues to face stiff competition from Bitcoin (BTC) in relative valuation, as ETH must rise by approximately 50% to regain its previous peak against BTC from late 2021. This disparity reflects Bitcoin's ongoing dominance and the challenges altcoins face in reclaiming historical benchmarks.

According to CoinMarketCap, as of 15:09 UTC on August 9, Ethereum (ETH) traded at $4212.53.