Ethereum’s price recently reached a new all-time high of $4,546.05 on August 25th, before experiencing a slight dip over the past week. According to market analyst Ali Martinez, this retracement presents an opportunity for further bullish momentum in the short term. However, his technical analysis suggests that Ethereum may face a retest of its support level at $4,250. While price action has been fluctuating, there’s evidence of resilience from investors and institutions. The market witnessed reduced fund inflows over the past two weeks, leading to lower exchange holdings for Ethereum. The latest data shows that the supply of ETH on exchanges is near a three-year low. This trend coincides with rising demand from corporate treasuries and the emergence of spot Ethereum ETFs, which have collectively contributed $13 billion in net inflow.