Analyst: If ETH weekly closing price holds above $4,600, it may further rise to $5,200–$5,500

According to ChainCatcher, as reported by Cointelegraph, analyst BitBull stated, "ETH is attempting to close the weekly candle above $4,600. If successful, this would be a significant confirmation, indicating that this is not a bull trap."

He also pointed out, "If ETH manages to close the week above $4,600, it will mark the highest weekly close in history. At the same time, this would pave the way for the next upward phase, with a target price of $5,200–$5,500 next week."