Trader Eugene Ng Ah Sio posted that ETH has broken the resistance level of $4000, and he has surrendered and switched to long positions, waiting for BitMine Chairman Tom Lee to lead the way.

It's quite amusing how this guy flipped from bearish to bullish, with the $4000 mark being breached, causing a collapse in short seller confidence, resulting in a liquidation of 114 million in main short positions, and the market sentiment instantly reversed.

With the case of the 'Four Battles Whale' losing 20.73 million as a precedent, the increase in whale holdings and the general upward trend are boosting; the target for ETH is $5000, and it's advised to follow the trend and go long, but set stop losses, as there is high volatility in the short term, and keep an eye on the breakthrough of the supply zone.