Ethereum's recent price breakout is a pivotal moment, with the cryptocurrency finally surpassing its near two-week consolidation below $3,524. This move signals a significant shift as it nears the critical resistance of $3,721, fueled by robust investor enthusiasm. Ethereum seems well-positioned to aim for the coveted $4,000 threshold.

A notable exchange net position change indicates a substantial outflow of 89,000 ETH, which equates to around $323 million.

This significant outflow suggests increased accumulation as investors move their ETH off exchanges to hold for the long term. As Ethereum's value climbs, fear of missing out (FOMO) could further amplify interest, demonstrating investor confidence in its potential for further appreciation.

The macro momentum for Ethereum is bolstered by the Chaikin Money Flow (CMF) indicator. It is on the brink of entering bullish territory, a sign of escalating inflows. This trend underlines the strong support for Ethereum’s current price trajectory. The CMF's positive shift reflects growing investor involvement, reinforcing the asset's capability to reach its subsequent price objectives.

At present, Ethereum is valued at $3,681, slightly below the $3,721 resistance level—its final obstacle before achieving the $4,000 milestone. Successfully surpassing this resistance could pave the way for Ethereum to approach a high of $4,107 in 2024. The synergy between favorable macro conditions and bullish investor sentiment suggests Ethereum's potential to attain $3,988, marking a noteworthy recovery and fortifying its market position.

Failing to breach the $3,721 barrier could see Ethereum retract to $3,524, undermining the bullish perspective. Such a dip would stall Ethereum’s progress, highlighting the need to maintain its upward trend to meet anticipated price benchmarks.

The analysis concludes with Ethereum on the cusp of overcoming its final hurdle before $4,000, as accumulation intensifies.