According to @rovercrc, ETH is closing in on its highest weekly close ever, highlighting that Ethereum is approaching a potential record high on the weekly timeframe. Source: @rovercrc on X, Aug 12, 2025 https://twitter.com/rovercrc/status/1955147990210879694 A record weekly close is widely treated by technical analysts as a bullish confirmation of trend strength on higher timeframes, which traders monitor for breakout validation. Source: John J. Murphy, Technical Analysis of the Financial Markets For trade planning, market participants can compare this week’s close to the prior cycle’s record weekly close from late 2021 to assess confirmation risk. Source: Yahoo Finance ETH-USD weekly historical data

According to Mihir (@RhythmicAnalyst) on Twitter, Ethereum (ETH) began its price rebound on March 31st, but for traders seeking confirmation of a new all-time high, a weekly close above $2,900 is essential (source: Mihir, Twitter, June 10, 2025). While current support levels provide a defense line, Mihir emphasizes that traders must also monitor the strength and height of the bounce—specifically, the price level from which ETH can launch a sustained upward move. This technical confirmation is crucial for identifying breakout opportunities and managing risk in the current crypto market environment.