I think ethereum is trying to follow the foot print of Bitcoin if we observed carefully. When Bitcoin was around 3k levels, the first aim was to touch levels of $10k but because there was a heavy demand and fomo, it run to almost 18k before the run drop down to $15k levels. If Bitcoin had a good run like many people are anticipating, then expect Ethereum to reach or cross $10k levels. If Ethereum can do one thing and make it transaction super cheap even with the speed, it will grow higher than it is right now.
I think that the price increase of ETH is inevitable: first, money flows to BTC, then to ETH. Events such as DenCun and Spot ETF are just breaking news used to legitimize price movements.
DenCun can bring the total speed in the Ethereum ecosystem, including Laeyer-2 up to 100k tps, similar to what Avalanche wants to achieve. This speed is enough to help users experience faster and cheaper transactions on layer-2 solutions. But this factor does not create positivity in the adoption process, but in investor optimism about the future of ETH and native tokens on Layer-2.