ETH broke through the $4,000 mark for the first time since the end of 2024, and market sentiment rose again. Analyst Merlijn said that the upward channel of ETH's price has opened, and the current highest target price may be set at $20,000. In addition, trader BitBull pointed out that it may be easier for ETH's price to reach new historical highs, driven by large-scale short squeezes and institutional buying pressure. If the weekly closing price is above the $4,100 range, new historical highs may appear within 1-2 weeks. It is reported that ETH's previous high was around $4,875, set in November 2021.