Ethereum (ETH) is trading in the $4,300–$4,400 range. This is very close to its all-time high (ATH) of $4,878 reached in November 2021. A number of analysts have commented that the market conditions are right for a potential retest of the level as soon as today, with strong technical momentum and increased institutional buying.

The price of Ethereum has skyrocketed by 26% this week alone, with short traders feeling the pain Tuesday following the latest leg up.

The total market capitalization of all cryptocurrencies crossed the $4-trillion mark for the second time in less than a month.