The analyst discusses Ethereum's price action, noting it is currently trading around $4311. He identifies lingering weakness on the charts and suggests the recent price action above $4100 to $4300 could be a bull trap. He uses Fibonacci retracement levels, from the bottom to the top of the most recent impulse move, to identify potential support levels. The first level is at the $3600 range. He highlights the point of control for volume near $3600 and considers any support test in that range to be bullish. If Ethereum holds support around $3600, it could break into the $5000 range, establishing a new all-time high. He mentions that Ethereum could reach $8000 to $10000 in a true parabolic altcoin season, especially with ETF staking activated, potentially attracting significant institutional investment. However, a healthy retracement to the epic golden pocket would give the highest probability of reaching $5200.