Weekly Forecast: Ethereum Prepares for a Breakout at $4,800🚀

$ETH is trading near $4,420 with an RSI of 65.6

Ethereum (ETH) continues to demonstrate bullish strength despite a slight pullback of 4.21% from recent highs.

Currently, the asset is trading at $4,420, but it is just a strike away from a key resistance level at $4,793, and momentum indicators suggest another upward phase is likely. The Relative Strength Index (RSI) is at 65.6, just below the overbought level, indicating the potential for further growth but not triggering immediate selling pressure. Meanwhile, the MACD histogram is clearly positive, and conditions of a bullish crossover support the continuation of the upward movement. The price of Ethereum is also pressing against the upper Bollinger band, signaling that a breakout may be imminent if volume holds at current levels.