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.