$ETH breakout leading to test 5000$

Over the past three months, Ethereum has been consistently forming higher lows, starting from the ~$1,362 level, showing a strong and sustained uptrend. Recently, ETH decisively broke above the $4,100 resistance zone, which had previously rejected price action three times.

With this breakout, I’m not expecting an immediate retest of $4,100. Instead, price may continue its rally toward the 2021 all-time high near $4,900. Only after testing that level could we see a pullback to retest the $4,100 zone or even fill the small gap near $4,050.

On the fundamentals side, ETH ETF inflows remain positive on a daily basis, signaling strong institutional demand. Combined with increased whale accumulation, buying pressure continues to dominate.

Earlier, I considered this area for a potential short, but the price action and on-chain data now clearly indicate this is not a shorting opportunity—momentum remains bullish.