Ether (Eth) The early hours of Saturday jumped up to $ 4,200 on Binens, after December 2021, its highest, two -day rally found fuel of $ 207 million in heavy business and small liquidity.
After December 2024, for the first time after a Friday breakout above $ 4,000, a technical milestone that was attracted to freshly buying and set the stage for Saturday’s push high.
Analyst Miles Dutasher Said These forced buybacks helped accelerate the rally. In the first post, that It has been told A “on-chain wealth effect”: As the price of ETH rises, both big holders and retail investors see their positions profitable, inspired them to recover capital in small, high-risk tokens in search of large benefits. This dynamic, he said, can increase rallies beyond ETH.
Deutscher too mapped out A three-phase market rotation is expected to take months to come out: an Ath-LED mini ultCin season, a rotation in bitcoin that can lead BTC to $ 120,000- $ 140,000, while the altcoins backward, and finally have a potential “blotoff” rally in a shift for a potential “blotoff” rally. Marks the peak of the cycle.
‘Wild Move’
Crypto analyst Michael Van de Pope called Saturday’s push $ 4,200 a “wild trick” and warned that buying at such high levels leads to more risk. While he sets ETH for a breakout towards all-time high, he argued that allocating capital to projects within the ETH ecosystem can give better percentage returns if the speed continues.
He too Said Before the continuous ETH power can determine the platform for adequate advantage in altcoins, potentially rewards portfolio deployed for a broad market rotation.
Market intelligence platform noted ATH climbing above $ 4,000 on 8 August was the first since December 16, 2024, and the language rapidly increased by retail traders. Mention of words like “purchase” and “speed” became almost double compared to “sales” and “recession”. The firm warned that over-confidence can sometimes cause short-term stop during strong uptrend.
Technical analysis highlights
- According to the technical analysis model of Coindesk Research, between August 8 at 07:00 UTC and August 9 at 06:00 UTC, Eth $ 3,914.59 to $ 4,160.29 increased from 6%, 6% profit, $ 3,885.03 and $ 4,194.53.
- The first breakout took place on August 8 at 13:00 UTC, with prices above $ 4,000 at 646,459 Eth, which is about three-hour at an average of 24-hour of 218,847 Eth.
- On August 9, a second surge on 05:00 UTC removed prices at 714,461 eth at $ 4,194.53 at the peak, again more than the triple more than the daily average.
- In the last hour (August 9, 05: 19–06: 18 UTC)The eth went from $ 4,157.33 to $ 4,194.53, before retreating at $ 4,158.50, with $ 42.52 in intraday swing.
- Buying prices above $ 4,190 before the profit -taking set, installing support between $ 4,155 and $ 4,160, suggests consolidation that big players were shut down in profit near the level of psychological $ 4,200.
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