Ethereum's price has surpassed $4,000 again, and historical data suggests that this could be the start of a prolonged bull market. On-chain analysis indicates that Ethereum's Long-Term Holders (LTH) sentiment has improved, with the Long-Term Holder-Net Unrealized Profit/Loss (LTH-NUPL) metric placing the cryptocurrency in the belief zone. Additionally, the Market Value to Realized Value (MVRV) ratio suggests that Ethereum is still undervalued, supporting the idea of further price increase. Ethereum's price is currently holding strong support around $3,075 and has cleared the $4,003 resistance, indicating continued bullish momentum. The Bull Bear Power (BBP) indicator remains positive, suggesting that Ethereum's price could climb toward $4,400, but caution should be exercised as bears could regain control and push the price lower.



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