Ethereum (ETH) Price Prediction for August 9

Ethereum price has extended its recovery, climbing from the August 5 low near $3,450 to test the $3,950 zone. This rally broke above a descending structure and retested the $3,708 support-turned-resistance level, which now serves as a launch point for the current push.

On the 4-hour chart, ETH is holding above all major EMAs. The EMA20 at $3,749, EMA50 at $3,686, and EMA100 at $3,623 are now stacked bullishly below price. This alignment supports continuation as long as $3,800 holds as near-term support.

Bollinger Bands have widened, indicating volatility expansion, while price rides the upper band, a sign of sustained bullish momentum. The breakout has also pushed ETH back above its broader trendline from July, re-establishing a higher-high structure.

The rise in Ethereum price today is driven by both technical and derivatives market tailwinds. Technically, the breakout above $3,708 signaled a shift back to buyer control after a week-long pullback. This triggered fresh long positioning and buy-stop activation above $3,800.

In the derivatives market, trading volume jumped nearly 70 percent to $122.34 billion, with open interest climbing 11.98 percent to $52.69 billion. Binance’s top trader long-to-short ratio is at 3.03, underscoring a strong long bias among high-volume traders. Options volume also surged over 131 percent, indicating aggressive bullish positioning ahead of a potential breakout toward $4,100.

On the 30-minute chart, RSI sits near 60 after cooling from overbought territory, allowing for further upside without immediate exhaustion. MACD remains in positive territory despite a mild histogram contraction, showing bullish momentum is still present.

The weekly chart highlights a key resistance zone at $4,106, which aligns with the 1.0 Fibonacci extension from the 2021 highs. A break above this level could open the door toward the $5,070 and $5,788 Fibonacci targets.

Daily Supertrend levels remain firmly bullish above $3,387, with no reversal signals in sight. The DMI shows +DI leading -DI, supported by a rising ADX above 32, confirming a trending market.

VWAP on lower timeframes is anchored near $3,918, acting as a key intraday pivot. As long as ETH holds above this zone, the path of least resistance remains upward.

Over the next 24 hours, Ethereum price will need to maintain above $3,800 to preserve the bullish structure. A clean breakout above $3,950 to $3,960 could quickly lead to a retest of $4,100, which is the most significant resistance before higher targets come into play.

If bulls fail to sustain momentum and price dips below $3,800, a pullback toward $3,749 (EMA20) and $3,708 support could occur. However, given the EMA alignment, expanding Bollinger Bands, and derivatives positioning favoring longs, the probability remains tilted toward another breakout attempt.