Ethereum Price Climbs Within 1% of All-Time High on Rising Momentum
Ethereum price is trading just under $4,850, sitting less than 1% below its all-time high of approximately $4,900. Momentum is building as trading volumes surge and on-chain activity increases, suggesting bulls are in control. Market participants are watching key resistance around $4,900, with a decisive break likely to set a new record high. A recent $5 million Ethereum purchase by former President Trump has added bullish sentiment, pushing the ETH price higher amid heightened social media chatter. Analysts point to growing institutional interest and rising decentralized finance (DeFi) usage on the Ethereum network as drivers of the current uptrend. Short-term traders may look for a break above $4,900 to trigger further momentum, while long-term investors see the move as confirmation of Ethereum’s resilience ahead of network upgrades. Ethereum price action remains closely tied to broader crypto market trends, with Bitcoin and altcoins also showing strength. Traders should monitor on-chain metrics, volume spikes and resistance levels to anticipate potential pullbacks or continuation of this bullish run.
Bullish
The Ethereum price rally toward its all-time high reflects strong bullish momentum. Trading volumes are rising alongside on-chain activity, a typical precursor to breakouts. High-profile endorsements like the $5 million purchase by former President Trump boost market sentiment and attract retail and institutional interest. Historically, when ETH approaches key resistance levels with volume support—as seen before the 2021 peak—it often leads to new highs. Short-term traders may initiate long positions above $4,900, while long-term holders view this as confirmation of Ethereum’s network growth and upgrade prospects. Overall, the convergence of technical strength, social momentum, and institutional inflows suggests a bullish outlook for both immediate continuation and sustained long-term uptrend.