Ethereum Price Forecast: Potential for $5,500 Breakout

Ethereum’s price action this week has been confined to a tight range between $4,100 and $4,500, following a strong rally fueled by bullish sentiment. Traders are closely watching the market as it enters a crucial phase. Crypto analyst Ted Pillows suggests that Ethereum’s short-term outlook hinges on whether it can break through resistance near $4,500. A daily close above this level could propel ETH prices towards $5,500, signaling renewed momentum in an uptrend.