Can Ethereum Still Reach $4,950 Again?

Quick Read

• Ethereum is inactive trading astir 58% beneath its all-time precocious of $4,950 contempt large maturation crossed the network.

• More than 34 cardinal ETH is presently staked, reducing the liquid proviso disposable for progressive trading.

• Bitcoin’s show inactive plays a large relation successful determining whether Ethereum tin physique beardown momentum again.

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Ethereum (CRYPTO: ETH) climbed to $4,950 successful August 2025, breaking its 2021 grounds aft astir 4 years of consolidation, and galore investors thought that terms level would yet go the level alternatively of the top.

So acold this year, ETH inactive trades acold beneath that grounds contempt spot Ethereum ETF approvals and rising organization involvement crossed the network. That's what has galore investors paying adjacent attraction again, due to the fact that if Ethereum starts gathering superior momentum from here, the speech astir a instrumentality to $4,950 changes precise quickly.

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Why Ethereum Is Still Trading Far Below Its All-Time High

Ethereum is trading adjacent the $1,980-$2,300 scope successful May 2026, which inactive leaves it 2nd successful crypto by marketplace headdress astatine astir $245 billion. That sounds unchangeable until you enactment it adjacent to wherever it was 9 months ago, and past the representation changes completely.

Ethereum's diminution was astir a communicative occupation that had been gathering softly for 2 years. Standard Chartered expert Geoff Kendrick estimated that Coinbase's Base unsocial removed $50 cardinal from ETH's marketplace capitalization by siphoning interest gross distant from mainnet. Fee gross from web enactment fell 39% successful March 2026 alone, progressive addresses dropped 14%, and DEX trading volumes deed their lowest level since September 2024.

In May 2026, ETH spot ETFs added different $401.62 cardinal successful outflows, extending the streak to much than 12 consecutive trading days. The Bank of Japan's complaint hike strengthened the yen and unwound the transportation trade, forcing investors to exit high-risk assets similar ETH to repay inexpensive yen-denominated loans, a macro dynamic astir retail holders ne'er saw coming.

The effect was a marketplace wherever each betterment effort got sold aggressively, with ETH grinding from $3,000 astatine the commencement of 2026 each the mode down to $1,743 successful February earlier uncovering immoderate existent floor.

Why Ethereum Still Has a Route Back to $4,950

A fewer things are starting to enactment up again for Ethereum, and that's wherefore investors person go much optimistic astir wherever ETH could commercialized implicit the adjacent 2 years. Spot ETH ETFs are present trading successful the United States, giving accepted investors a overmuch easier mode to summation vulnerability without holding the plus directly.