Ethereum briefly surged above $4,750 on Friday, coming within a few dollars of its all-time high – though whether it actually broke that level depends on the data source. According to CoinMarketCap, Ethereum reached $4,884 at its peak, just $7 short of its previous all-time high set in November 2021. CoinGecko data puts the gap even narrower, with Friday’s top being just under $2 below the old record.
Some news outlets and on-chain aggregators have already reported a new all-time high, but others remain cautious, citing slight differences between exchanges and historical pricing. These discrepancies – both in current price feeds and past ATH readings – are common in the crypto market and often vary depending on the source. Regardless of whether the record has officially fallen, Ethereum has clearly come extremely close.
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Momentum Still Strong
After touching the highs, Ethereum has slightly cooled off and is now trading near $4,750. That’s still a substantial gain from Thursday, when it was hovering around $4,200.
Technical indicators support the current uptrend. RSI remains just below 65 – below the threshold typically associated with overbought conditions. All major moving averages are pointing upward, including the long-term 200-day MA, and the Awesome Oscillator is strongly in the green.
The market reaction follows a broader improvement in macro sentiment. Ethereum had dropped from similar levels last week after a disappointing PPI reading. With new, more dovish signals from the Federal Reserve, the recent pullback appears to have been temporary.
In context, Ethereum has essentially retraced its entire decline from last week – with the price action now showing that the move may have been driven more by outside noise than any change in fundamentals.
Investors Eye $5,000 and Beyond
The focus now turns to whether Ethereum can decisively break the ATH level and target the next psychological milestone: $5,000.
According to prediction markets on Polymarket, 53% of participants believe ETH will surpass $5,000 before the end of August. That figure jumps to 88% when looking further out toward the end of 2025.
There’s also growing interest in higher price levels. More than half of Polymarket bettors see $6,000 as likely before year-end, and even more ambitious targets are gaining traction. Currently, odds imply a 24% chance of Ethereum reaching $8,000 and a 14% probability of hitting $10,000 in the same timeframe.
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Outlook
Ethereum is now approaching one of the most closely watched resistance zones in crypto. While short-term price fluctuations may continue, current indicators suggest there is still room for further gains.
Whether or not ETH has already broken its previous record, the market appears to be treating this level as a stepping stone rather than a ceiling.
