ETH / USDT is currently at a critical juncture, testing a major multi-year resistance zone between $4100 and $4200. This level has historically been a significant ceiling for the price.
The current weekly candle is attempting a breakout above this resistance.
The Key Takeaway:
If this weekly candle closes definitively above the $4200 resistance, it would confirm a major breakout. This could propel ETH towards new all-time highs, with a potential price target of $5000 and beyond. This is the "fly" scenario.
Conversely, a rejection from this level and a close back below the resistance would indicate a false breakout, and we could see the price consolidate or correct in the short term.
All eyes are on the weekly close to confirm the next major move.
Trade active
Ethereum is performing as expected, holding above the resistance and now pumping strongly towards its targets. Stay tuned for further upside movement!
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🚀 Join my Telegram community for free crypto signals, entry/exit points, and real-time market updates!
👉t.me/CryptoPrime18
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.