Ethereum Could Reclaim $4.8K or Drop to $4.5K After ATH
Ethereum price rallied to an all-time high at $4,955 before pulling back to $4,633. On-chain metrics show heavy speculative inflows and elevated market temperature. Alphractal’s Realized Cap Impulse increased, indicating fresh capital moving into long-term positions. Market Temperature also rose, reflecting heightened investor activity and volatility. Santiment data reveals an MVRV L/S ratio at 31.54%, a yearly high for long-term holder profitability. CryptoQuant’s Coinbase Premium turned negative at -0.0058, and the taker buy-sell ratio fell to 0.85, signaling institutional demand cooling and seller dominance.
Traders face two scenarios. If buying pressure returns, Ethereum price could rebound to $4,800 and test a new peak. If selling persists, a correction toward $4,500 is likely. Key indicators to watch include Realized Cap Impulse, Market Temperature, MVRV, Coinbase Premium and the taker ratio.
Neutral
The article presents mixed signals: strong speculative inflows and high long-term holder profitability suggest bullish potential, while negative Coinbase Premium and a low taker buy-sell ratio highlight selling pressure and cooling institutional demand. Historically, similar scenarios have led to short-term volatility with potential rebounds or corrections depending on follow-through buying. In the near term, traders should prepare for a possible retest of $4,800 if buyers step in or a drop toward $4,500 if sellers dominate. Over the long term, market direction will hinge on renewed capital inflows and improved institutional participation, making the overall outlook neutral until clear conviction emerges.