The Ethereum (ETH) market has recently shown a positive trend, with multiple favourable factors coming together to provide strong support for its price rise. Analysis indicates that, driven by multiple factors such as the gradual improvement of the regulatory environment, continuous accumulation by institutional investors, the Ethereum Foundation's promotion of reforms, increasingly active on-chain activities, and the gradual restoration of market confidence, the ETH, which has experienced a long period of consolidation, may welcome a structural turning point and is expected to continue its upward trend.

The $4000 level holds significant psychological importance for ETH investors. If ETH can effectively break through this price point, it will greatly boost community confidence. Conversely, if it fails to break through despite numerous favourable factors, it may lead to a loss of investor confidence.

It is worth noting that the recent pullback after the latest round of pump has shown relatively healthy performance, which lays the foundation for ETH to once again challenge the 4000 USD mark. Market participants generally believe that if ETH can stabilize above 4000 USD, its subsequent performance will be more optimistic, with the potential to reach 5000 USD or even create a new historical high.

However, investors still need to be cautious and closely monitor market trends and changes in the macroeconomic environment. The cryptocurrency market is highly volatile, and price predictions are uncertain. In any case, Ethereum's technological innovations and the continuous development of its ecosystem will be key factors supporting its long-term value.