Ethereum is currently approaching a crucial resistance zone around the 4710 level, marked as a major decision point. Price has shown multiple Breaks of Structure (BOS) in the past, confirming active liquidity on both sides. The highlighted zone represents a critical area where market direction could shift based on reaction strength.
If buyers maintain momentum and successfully break above the resistance with solid bullish candle closures, a continuation move toward the upper target zone (around 4780-4800) can be expected. This would confirm a short-term bullish structure and potential sweep of the weak high.
However, a strong rejection from this decision point could trigger a bearish reaction, leading to a downside move toward the lower target zone near 4660-4640. Traders should watch for clear signs of market structure shift (CHoCH) and volume confirmation before entering.
