PANews reported on August 10th that according to Cointelegraph, market sentiment has risen again after ETH broke through the $4,000 mark for the first time since the end of 2024. Analyst Merlijn stated that ETH's price has opened an upward channel, and the current maximum target price may be set at $20,000. In addition, trader BitBull pointed out that driven by large-scale short squeezes and institutional buying, ETH prices may be more likely to reach new historical highs. If the weekly closing price is above the $4,100 range, a new historical high may be reached within 1-2 weeks. It is reported that ETH's previous high was approximately $4,875, set in November 2021.