Current price: $4730.2
ETH has successfully broken through the important resistance between $3800 and $4000 for the first time in a long time.
This breakout also includes the resistance of the historical ascending price channel.
To maintain positivity, Ethereum needs to stay above the purple line of the ascending price channel resistance.
Additional daily closes above the resistance are preferred to confirm the breakout.
On the weekly frame, it would be best to close above the current resistance, preferably above $4627, to mark this as the first historical weekly close at these prices.
If this weekly close is achieved, the following week is expected to mark the beginning of forming a new historical peak for Ethereum.
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