Ethereum: Watch the breakout closely 💫🚀
$ETH / USDT is currently at a critical juncture, testing a major multi-year resistance zone between $4100 and $4200. This level has historically acted as a significant ceiling for price action.
Right now, the weekly candle is making an attempt to break above this resistance zone.
The Key Takeaway:
If this weekly candle closes decisively above $4200, it would confirm a major breakout opening the doors for a potential rally towards $5000 and beyond. This is the "fly" scenario that bulls are watching closely.
However, if $ETH faces rejection and closes back below the resistance, it could signal a false breakout, leading to potential consolidation or a short-term correction.
All eyes are on the weekly close to determine Ethereum’s next major move.
