A break to either direction, a pull back and then continuation to show the direction of trade short term of the formation draw. Either way, longer term I am bullish ETH and any pull backs regarding price, I will be buying in further.
Long term view: A break above, pattern: Cup & handle formation including the shorter term formation, we could easily reach to $5500-$6000 areas. Larger institutional firms are predicting it to go towards 15k-20k. However, price doesn't always go in a straight line.
Institutional wise ETF & Options etc & the adoption of ETH has more of a use case is far greater than BTC. Allowing the Alt-coins in yr 22 to prosper further.