Analyst: If the weekly closing price of ETH stabilizes above 4600 USD, it may further rise to 5200 to 5500 USD

ChainCatcher news, according to Cointelegraph, analyst BitBull stated, "ETH is trying to close the weekly above $4,600. If successful, this will be an important confirmation that this is not a bull trap."

He also noted, "If ETH can achieve a weekly close above $4,600, it will set a new all-time high weekly closing price. At the same time, this will pave the way for the next upward phase, with a target price reaching $5,200--$5,500 next week."