Ethereum (ETH) price briefly grazed the $4,000 mark on March 8 2024, bringing its weekly gains to 20%. On-chain analysis shows how a spike in Ethereum trading volume has triggered the latest upswing. With existing holders pining for more gains can Ethereum price push for the next milestone target at $4,500? After a relentless 51% in February 2024, ETH bulls made a positive start to March. On March 8, Ethereum price crossed the $4,000 milestone for the first time in 3-years, capping 20% gains in the first week of March alone. As widely expected, a mild sell-off at the $4,000 resistance saw ETH price retraced 3% towards $3,900 within the next 24 hours, trading at $3,930 at press time on March 9.