Analyst: "ETH breaks through $4900 to reach a new high, with a stronger upward trend than BTC."

ChainCatcher news, according to CoinDesk, the price of Ethereum broke through $4900 on Sunday evening, reaching a new all-time high of $4946.

Cryptocurrency trader Crypto Rover predicted: "The amount of ETH held on exchanges has been decreasing recently. A reduction in exchange holdings may lead to a decrease in supply, thereby pushing prices higher." Another analyst, Miles Deutsher, added: "BTC has been weak, but ETH has not. While BTC's upward trend has stalled near its peak, ETH is forming strong buying momentum, showing a relatively clear upward trend."

Some analysts warn that weekend breakouts often experience pullbacks, and a short-term pullback is expected early this week.