Ethereum (ETH) has reached its highest weekly closing price since December 2021, marking a notable recovery in the cryptocurrency's market performance. Over the past week, ETH's price has surged approximately 19%, bringing it within striking distance of its all-time high (ATH). As of mid-August 2025, ETH is trading less than 6% below its ATH, with the price gap narrowing to around $100 to $150. Market analysts estimate the probability of ETH reaching a new ATH at 89%, reflecting strong bullish sentiment. The cryptocurrency's consolidation just below its previous peak is viewed as a positive indicator by market participants, suggesting potential for further upward momentum.