From the weekly perspective, Ethereum has recently surged significantly, continuously producing large bullish candles, and has broken through all moving average resistance. The trend is now in a bullish arrangement. This wave of increase has released most of the trapped positions from the previous bull market, and it is now less than 300 points away from the historical peak, which is just a 6% distance. This situation clearly indicates a push towards a new historical high, and Ethereum will definitely break 4900 and reach a new high.