Ether’s rally picked up pace over the past two sessions, with two decisive surges pushing the price to its highest level in more than three years. On Friday, Aug. 8, ETH broke through the $4,000 mark for the first time since December 2024, clearing a key resistance level on a burst of trading activity. The momentum carried into Saturday, Aug. 9, when the token climbed to $4,200 on Binance at 5:06 a.m. UTC — a level last seen in December 2021 — before easing to about $4,165 at press time, up 6.57% over the past 24 hours, according to CoinDesk data.

Market analysts credited the move to a combination of technical breakouts and shifting trader positioning.

Miles Deutscher pointed to roughly $207 million in ETH short liquidations over the past day, based on CoinGlass data, saying these forced

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