The recent trend of Ethereum is remarkable. At the beginning of 2024, this crypto assets giant has already attempted to break the key price level of $4000 four times. Each attempt feels like a thrilling drama, leaving market participants holding their breath.

This repeated surge behavior resembles a meticulously choreographed script more than traditional market fluctuations. Every time the price approaches $4000, it feels as if it encounters an invisible barrier that, though within reach, is always difficult to break through the final critical point.

However, this ongoing probing may hint at deeper market trends. Just as a fighter in the ring might feint several times before delivering a lethal blow, the current market behavior may be building momentum for a final breakthrough.

It is worth noting that on-chain data shows that large investors are steadily increasing their positions, while funds are continuously flowing into Ethereum ETFs, providing a solid foundation for a potential breakthrough. The fourth attempt may be the key moment to break the deadlock.

Market experience shows that the harder a resistance level is to break through, the more rapid the subsequent rise tends to be once it is breached. For Ethereum, the importance of the psychological barrier of $4000 is self-evident.

The current market landscape is at a delicate balance point. Investors are closely watching every signal that could trigger a breakthrough, while also assessing potential risks. Regardless of the final outcome, this wave of cyclical highs in Ethereum has undoubtedly added a lot of drama and suspense to the crypto market for 2024.