ETH breaks through $4,900, hitting a new all-time high

Golden Finance reports that Ethereum (ETH) has once again become a market focus, demonstrating a strong upward trend. Early this morning Beijing time, ETH prices surged past the key $4,900 mark, reaching a new intraday high of $4,903, a new all-time high since its creation. The 24-hour price surge reached 3.31%, maintaining an upward trend for several consecutive trading days. Market buying activity was active, and trading sentiment remained strong.

As of press time, the ETF had fallen below $4,700, currently trading at $4,694.79 per coin.

Recently, with the overall cryptocurrency market rebounding, Ethereum has continued to garner significant attention due to its solid technical foundation and thriving ecosystem of applications. Market analysts indicate that ETH's recent breakthrough is primarily driven by multiple positive factors, including progress in Layer 2 network expansion, expectations for the Ethereum 2.0 upgrade, and institutional investment. These positive fundamentals provide solid support for its price rise.

However, it is important to note that after reaching a new high, ETH price volatility has increased significantly, suggesting potential for a short-term technical correction. Investors are advised to view the market rationally and avoid blindly chasing high prices. They should pay attention to position management, set reasonable stop-loss and take-profit orders, and guard against potential volatility risks. The market is risky, so invest with caution.