Ethereum ($ETH) is currently trading around $3,900, which brings it close to the highs from March 2025. While this price action might suggest market overheating, current blockchain metrics tell a different story.
Ethereum Trades Near $3.9K
Ethereum is presently hovering near its March 2025 highs around $3,900. While this price might indicate an overheating altcoin, on-chain metrics show lower investor profits compared to previous peaks. This gap hints at a healthy setup for further upside in the ETH market.
On-Chain Signals Indicate Potential $4.9K Rally
Historical market behavior suggests that when Ethereum trades near local highs with modest profit-taking activity, it often precedes another upward leg. Current on-chain analytics reflect similar conditions from past bullish cycles where Ethereum made substantial upward moves. The combination of low realized profits, steady network activity, and rising accumulation could support a surge to the $4.9K level in the coming weeks.
Why This Time Might Be Different
Unlike past peaks where excessive profits led to mass sell-offs and corrections, today's scenario shows investor restraint. The lack of widespread profit-taking may reflect growing conviction among long-term holders and institutional participants. This confidence, along with strong technical and on-chain signals, builds a compelling case for Ethereum to revisit its all-time highs — and potentially set new ones beyond $4.9K.
Currently, Ethereum exhibits signs of preparation for further growth, despite significantly lower investor profits compared to past highs. This may indicate a potential price increase for the altcoin in the coming weeks.