Ether (ETH) jumped to $4,200 in Vinance early on Saturday, the best Saturday since December 2021 after a two-day rally fueled by intense trade and a short $207 million liquidation.
The move was above $4,000 for the first time since December 2024, following Friday’s breakout.
Miles Deutscher said these forced takeovers will help accelerate the rally. In a previous post, he described the “effects of on-chain wealth.” As ETH prices rise, both large owners and retail investors are urging their positions to increase profitability and redistribute capital to smaller risk tokens in pursuit of greater profits. This dynamic, he said, can amplify meetings beyond ETH itself.
Deutscher also mapped the three-stage market rotation he expects. It could take several months to unfold: ETH-driven mini-Altcoin season, rotation to Bitcoin that can raise BTC to $120,000-140,000, and Altcoins delayed, eventually returning to ETH and smaller tokens, with potential “BlowOff” marking the cycle.
Crypto analyst Michael Van de Poppe called Saturday’s push to $4,200 “a wild move” and warned that buying at such a height would pose a greater risk. He is considering setting ET for breakouts towards its all-time high, but argued that allocating capital to projects within the ETH ecosystem could result in better percentage returns if momentum continues. He also said that the continued ETH intensity could set the stage for Altcoins’ significant profits and could reward a portfolio located for a wider market rotation.
Market Intelligence Platform Santiment said that ETH had climbed over $4,000 on August 8, the first since December 16, 2024, with a sharp rise in bullish languages from retailers. References to terms such as “buy” and “bullying” have almost doubled compared to “selling” and “bearish.” The company warned that overconfidence can lead to a short-lived moratorium, even a strong upward trend.
Technical Analysis Highlights
- According to Coindesk Research’s technical analysis model, between 07:00 UTC on August 8 and 06:00 UTC on August 9, ETH rose from $3,914.59 to $4,160.29, trading between $3,885.03 and $4,194.53.
- The first breakout occurred at 13:00 UTC on August 8th, pushing up the price above $4,000 at 646,459 ETH, almost tripling the 24-hour average of 218,847 ETH.
- The second surge at 05:00 UTC on August 9th raised the price to a session peak of $4,194.53 at 714,461 ETH.
- In its final time (August 9, 05:19–06:18 UTC), ETH moved from $4,157.33 to $4,194.53 before moving from $4,158.50, blew $42.52 at $42.52.
- A temporary purchase of prices above $4,190 before profits are set will establish support between $4,155 and $4,160, suggesting consolidation as larger players are trapped near the psychological $4,200 level.
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