**Price Performance & Market Trends**
The Ethereum market witnessed a positive surge this past week, according to CoinMarketCap, with ETH/USD rising by 4.79%.
**Technical Analysis:**
– The hourly chart shows a potential breakout above the local resistance of $4,336, indicating further growth towards $4,400. However, volume remains low, suggesting a lack of clear momentum.
– On longer timeframes, ETH lacks support and resistance levels. Its current price is far from these points, hinting at continued sideways trading within the range of $4,300-$4,500.
– A mid-term outlook indicates ETH bounced off the crucial support of $4,093. If the weekly closing bar is away from this level, a potential test of the $4,800-$5,000 area could occur.