Ethereum has surged past the $4,000 resistance level for the first time in 1,146 days, signaling renewed bullish momentum. The cryptocurrency is currently trading at $4,587, marking a 1.0% gain over the past 24 hours, with a market cap of $553.20 billion, according to CoinGecko data. On-chain analysis reveals $92.8 million in inflows, supporting Ethereum's position above the $4,475 support level. Analysts are now eyeing the $7,331 Fibonacci extension level as the next potential target for Ethereum. The recent breakout occurred on the fourth attempt in August, concluding a prolonged consolidation phase and setting the stage for further upward movement.