Ethereum

Order

TL;DR
<ul>
 <li style="font-weight: 400;">Ethereum filled the $4,050–$4,100 CME gap after heavy liquidations drove prices sharply lower.</li>
 <li style="font-weight: 400;">Analysts highlight a confirmed golden cross and breakout above a four-year descending resistance line.</li>
 <li style="font-weight: 400;">ETH supply on centralized exchanges has dropped to a nine-year low, signaling strong accumulation.</li>
</ul>
<h2 id="b-cme-gap-closed-after-market-decline-b">CME Gap Closed After Market Decline</h2>
Ethereum extended its decline this week, with heavy liquidations hitting long positions as the price dropped from above $4,600 to near $4,000. The move completed the closure of the CME futures gap between $4,050 and $4,100, a level closely tracked by traders.
At the time of writing, ETH trades at around $4,200, down 1% in 24 hours and lower by 9% over the past week. Analyst CW <a href="https://x.com/CW8900/status/1958036393940381768" target="_blank" rel="noopener noreferrer nofollow">commented</a>,&nbsp;
<blockquote>
 “long positions on $ETH have been destroyed, and the CME gap has been filled. Now the next target will be the short position.”
</blockquote>
<blockquote class="twitter-tweet">
 <a href="https://twitter.com/search?q=%24ETH&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">$ETH</a> has filled the CME gap.
 And a rebound is beginning. <a href="https://t.co/XOqY8vD4em" target="_blank" rel="noopener noreferrer nofollow">pic.twitter.com/XOqY8vD4em</a>
 — CW (@CW8900) <a href="https://twitter.com/CW8900/status/1958032361469407236?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">August 20, 2025</a>
</blockquote>

CME futures gaps often act as price magnets. As CryptoPotato <a href="https://cryptopotato.com/eth-price-targets-4070-cme-gap-after-hitting-key-zone/" rel="noopener noreferrer nofollow">reported</a>, the last time Ethereum filled a major gap, the asset gained more than 40% in the weeks that followed.
Order book heatmaps show that liquidity around the $4,200–$4,400 range has been absorbed during the decline. With the gap now filled, ETH has begun to stabilize near support levels, raising the possibility of <a href="https://cryptopotato.com/eths-5k-chances-drop-from-64-to-26-as-traders-turn-cautious/" rel="noopener noreferrer nofollow">upward pressure</a> on short positions.
<h2 id="b-long-term-breakout-on-monthly-chart-b">Long-Term Breakout on Monthly Chart</h2>
Analyst Merlijn The Trader highlighted a major breakout on the monthly timeframe. ETH has moved above a four-year descending resistance line and formed a MACD golden cross. He wrote,&nbsp;
<blockquote>
 “This isn’t noise. This is liftoff. Next stop: $10,000 Ethereum.”
</blockquote>
The breakout ends years of repeated rejections at the same trendline. A confirmed MACD cross is viewed by many chart analysts as a sign of longer-term momentum shifting in favor of buyers.
<blockquote class="twitter-tweet">
 THE <a href="https://twitter.com/search?q=%24ETH&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">$ETH</a> BREAKOUT EVERYONE WAITED FOR.
 Ethereum just shattered a 4-year downtrend. Monthly MACD golden cross → confirmed.
 This isn’t noise. This is liftoff.
 Next stop: $10,000 Ethereum <a href="https://t.co/Mm83ZMvCAh" target="_blank" rel="noopener noreferrer nofollow">pic.twitter.com/Mm83ZMvCAh</a>
 — Merlijn The Trader (@MerlijnTrader) <a href="https://twitter.com/MerlijnTrader/status/1957819849792749807?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">August 19, 2025</a>
</blockquote>

<h2 id="b-exchange-supply-at-multi-year-lows-b">Exchange Supply at Multi-Year Lows</h2>
Analyst Cas Abbé <a href="https://x.com/cas_abbe/status/1957837702293811416" target="_blank" rel="noopener noreferrer nofollow">pointed</a> to exchange data showing a sharp drop in available ETH.&nbsp;
<blockquote>
 “$ETH supply on CEX has now dropped to 9-yr low. Big money is buying loads of ETH and then taking it off from the exchanges,” he noted.
</blockquote>
<figure style="width: 100%" class="wp-caption aligncenter"><a rel="noopener noreferrer nofollow"><img alt="Ethereum (ETH) balance on exchanges" width="1200" height="675"></a>
 <figcaption>
 Source: X
 </figcaption>
</figure>
According to Abbé, exchange balances are now comparable to levels last seen when ETH traded at $30. They added,&nbsp;
<blockquote>
 “This seems like an even bigger supply crunch than BTC, and it has not been fully priced yet.”
</blockquote>
With exchange supply shrinking and technical patterns turning positive, Ethereum’s price action is being closely tracked for signs of a potential rally.
The post <a href="https://cryptopotato.com/ethereum-fills-crucial-cme-gap-is-10k-eth-the-next-target/" rel="noopener noreferrer nofollow">Ethereum Fills Crucial CME Gap: Is $10K ETH the Next Target?</a> appeared first on <a href="https://cryptopotato.com/" rel="noopener noreferrer nofollow">CryptoPotato</a>.

Ethereum Fills Crucial CME Gap: Is $10K ETH the Next Target?

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