The analysis focuses on Ethereum's potential to reach $6400, and possibly even $8000, based on Elliott Wave Theory and RSI levels. The analysis identifies a 1-2 setup suggesting the current wave is the start of a larger third wave. The 4-hour chart shows the third wave is nearly complete, with a target around $4500. It also considers an alternate scenario where the third wave extends higher before a fourth wave pullback, potentially reaching a $6000 target. The longer-term outlook on the weekly chart tracks a larger fifth wave, estimating a target of $6400 or $8000. The RSI levels are at similar levels to previous lows indicating a bounce. Short-term targets focus on breaking the $4100 resistance. The overall trend indicates the completion of a bullish pattern since May.