Ethereum saw dramatic price swings, surging to $4,960 before a sudden reversal erased most of the gains. The volatile action has left traders uncertain about the future direction of ETH prices. 30 minutes after hitting a record high, Ethereum plunged by nearly $180. This rapid decline highlights the increased volatility in crypto markets and sparked panic across the market. 14:30 saw a slight dip followed by an initial bull run that peaked at $4,960 before dropping sharply following a surge of selling pressure around 19:30. The drop triggered intense trading activity, with multiple bearish candles signaling a significant sell-off. While the price recovered slightly to end around $4,630, the crash shows a significant shift in sentiment. Some analysts remain bullish, citing positive indicators such as institutional investment and large liquidity shifts from Bitcoin into Ethereum. They predict a sustained move past $5,000 within days.