ether (eth) Pushed into unknown territory on Sunday, it cleared $4,900 at Coinbase at 5:40pm at UTC, surpassing previous record of $4,867 set on November 8, 2021.
TradingView’s 5-year ETH-USD price chart shows clean and multi-year breakouts. ETH ultimately achieved the height of 2021 after a long integration, and the historic overhead level has not tilted.
This is what traders call price discovery. The market is printing new highs just in psychology and order flows, not in the previous chart resistance.
The 5-day view will be entered into tape action. After a fast run from the mid-$4,700, ETH pushed through $4,900, reaching a high of around $4,946.90. As of the chart snapshot – 6:48pm UTC – The final price was around $4,941.57. That sequence forced buyers to absorb supply near the old ceiling, and to a classic breakout pattern of fresh height.
Analyst Miles Doiser summarised the changes in leadership as “BTC is exhausted and ETH is not.” In plain English, he flags relative momentum. Bitcoin rally stuck near recent highs, but the ether has invaded the price discovery.
When the market says one asset is “depleted”, upward attempts usually decline, follow-throughs are weak, and sellers keep pushing high. “Not” means the opposite – stronger follow-through, fresh height, active dip viewing. Traders often turn towards assets that exhibit higher relative strength when other leaders tire.
Crypto Rover focused on supplying the exchange. “Exchange Reserves” refer to coins held in wallets controlled by centralized trading venues.
When these balances go down, there are fewer coins available to sell immediately. Prices can accelerate as demand rises as a thin film of liquid supply, as buyers will have to bid high to return to circulation after exchange to compensate for the coin. It is the mechanic behind his “supply shock” phrase. This is a setup that does not guarantee a straight price, but allows you to expand your movement once momentum begins.
Michael Van de Poppe provided a risk check. He highlighted the unusually large weekly candles and warned that weekend breakouts often recede when liquidity normalizes early in the week.
The idea is simple. The weekend orders can get thinner, which can make movements more easily. When Fuller’s participation returns Monday, prices will occasionally retest the breakout area and check it out as support before trending again. In fact, that means that a pullback to the breakout zone, by itself, does not negate the larger bullish break seen on the five-year chart.
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