Ether Tops $4,900 on Coinbase, Enters Price Discovery Amid Mixed Analyst Views
Ether (ETH) surged past $4,900 on Coinbase Sunday at 5:40 p.m. UTC, surpassing its previous all-time high of $4,867 set in November 2021.
The five-year ETH-USD chart on TradingView reveals a decisive breakout as ETH clears the 2021 peak after years of consolidation. This move puts Ether into price discovery—where new highs are set without historical resistance, relying mainly on market psychology and order flow.
Over the past five days, ETH climbed rapidly from the mid-$4,700s, pushing through $4,900 to reach an intraday high near $4,946.90. At 6:48 p.m. UTC, ETH was trading around $4,941.57, indicating buyers absorbed supply near previous ceilings and pushed prices higher—a classic breakout pattern.
Analyst Miles Deutsher summarized the shift: “BTC is exhausted, ETH isn’t.” This means Bitcoin’s rallies have stalled while Ether shows stronger momentum. An “exhausted” asset faces weakening upward moves, while one that “isn’t” enjoys sustained buying and fresh highs.
Crypto Rover pointed out a declining supply of ETH on centralized exchanges, suggesting a “supply shock.” With fewer coins available on exchanges, scarcity can accelerate price gains as buyers bid more aggressively to obtain coins off-exchange.
However, analyst Michaël van de Poppe cautioned that weekend breakouts often retrace during the week as liquidity normalizes. Weekend order books tend to be thinner, amplifying price moves. When regular market activity returns, prices may pull back to test breakout support before resuming the upward trend—a normal consolidation that doesn’t negate the larger bullish picture.
