Ethereum's price has surged past the $4,000 mark, displaying robust growth with a weekly gain of more than 9%. The move above this significant resistance level is attributed to strong accumulation by ETH whales. Crucial on-chain metrics are also showing positive signs that indicate potential for a new all-time high (ATH) in the near future.
Market analysts remain optimistic about Ethereum's prospects due to these factors, suggesting bullish momentum could push its price to new heights. This development highlights the strategic actions of large holders and underlying network activity as key drivers for Ethereum's growth trajectory.