- Ethereum is only 10% away from its record high after a strong multi-week rally.
- LDO, ENA, and ChainLink post sharp weekly gains supported by heavy market trading.
- The altcoin season index shows a mixed trend, yet signals of growing momentum appear.
Ethereum is once again testing the ceiling of its multi-year ascending channel, trading at $4,286 at press time, extending a powerful rally that began near $2,000 in mid-2025 and now placing the asset more than 10% from reclaiming its all-time high above $4,800 recorded in November 2021.
The weekly chart shows price pressing against a long-standing resistance zone around $4,400, the same level that halted advances in early 2024, while the channel’s lower boundary remains firmly anchored near $1,600, underscoring a clear and orderly uptrend that has been developing since mid-2022.
Bullish pressure is supported by momentum indicators too, as the MACD line of 377.42 is clearly rising above a signal line of 232.73, and histogram bars are rising decisively in the positive direction. In the event Ethereum manages to move beyond the $4,400 zone on a weekly basis, technical estimates suggest that a breakout process may transpire that allows the token to fly straight into unknown territory.
Lido DAO, Ethena, and Chainlink Register Solid Gains
Lido DAO is priced at $1.48, rising 3.92% in the last 24 hours after intraday highs of $1.60. Its market cap stands at $1.32 billion, and a fully diluted valuation (FDV) of $1.48 billion. Trading volume reached $580.67 million, up 4.76%, producing a 45.18% volume-to-market cap ratio, signaling deep liquidity. The circulating supply is 895.88 million out of 1 billion, with a market cap-to-TVL ratio of 0.03518 against $37.99 billion in total value locked. Price movement shows a rise from $1.4087, followed by consolidation phases and mild pullbacks.
Ethena trades at $0.7727, posting a 29.78% gain over the past week despite a 2.61% drop in 24 hours. The token’s $5.11 billion market cap nearly matches its unlocked cap of $5.13 billion, with an FDV of $11.59 billion. Daily volume sits at $1.21 billion, down 28.37%, with a 24.41% volume-to-market cap ratio. Supply is fully in circulation at 15 billion tokens. Over the week, ENA climbed from $0.5946 on August 6 to the current price, holding most gains.
Chainlink is at $21.37, marking a 26.68% weekly rise despite a slight 0.05% daily decline. The token has a $14.49 billion market cap, an FDV of $21.36 billion, and a circulating supply of 678.09 million LINK out of 1 billion. Daily trading volume is $1.14 billion, down 15.92%, with a 7.81% volume-to-market cap ratio. Price advanced from $16.8788 on August 6 to over $22 on August 11 before modest retracements.
Related: Bitcoin Nears $123K as Ethereum Reaches 2021 Price Levels
Altcoin Season Index Signals Mixed Outlook
The CMC Altcoin Season Index stands at 32 out of 100, showing the market remains in Bitcoin Season despite altcoin strength. This level is lower than last week’s 42 but above last month’s 27.
In the past week, the total altcoin capitalization rose from about $1.45 trillion to a peak of $1.62 trillion. The yearly peak reached 87 on December 4, 2024, while Bitcoin Season hit a low of 12 on April 26, 2025. Should gains extend, it would mean that altcoins are once again asserting market dominance, but does this hint at an altseason?
