Ethereum fell straight into a four -year ceiling, and the price action presses on the 4700 USD team, which Kevin (@Kev_Capital_ta) repeatedly calls “the level that decides everything.” His latest configuration of ETH emissions as binary: either the decisive breakthrough-approved by a pure weekly closing and break for the weekly RSI-LUB line, another rejection, which extends months of weakening rallies.

Ethereum teeters for $ 4,700 – Breakout Oor Bloodbath?

“Catching up”, Kevin he saidNoticing that ETH “finally caught up with Bitcoin … is in the main resistance.” In its reading, an area of $ 4,700 is not one tick, but the supply zone defined by the peak of the previous cycle and strengthened by the “weekly trend on the RSI”, which narrow every progress from the beginning of 2024. “The resistance of cracks and a real bull will start” – he added. Until this happens, it characterizes this band as a “sand line”.

The test for the test was real. Kevin described the improvement in the flow of money and “nice patterns forming on some altcoins”-in this “head of the opposite head and arms”-the following failure and ETH got stuck at the time of resistance. He pointed to the lack of continuation of the session in Asia and, more strongly, the macro surprise that hit when the market was based for a long time.

This shock was a US manufacturer’s price index. “PPI was much hotter than expected,” Kevin said, emphasizing both the size and where the pressure appeared: the pressure of the month +0.9% was expected compared to +0.2%, the year by 3.3% compared to 2.5%, with PPI core +0.9% m/m

In his opinion, it reflects the costs based on the tariff, which are “Walite by the manufacturer”, which is why the jump appeared in PPI, not CPI. An open question – and the risk of ETH in resistance – is whether these costs “flow in CPI”, and thus, PCE. He emphasized how quickly cut probability enriched the Fedwatch’s ending tool: September is still heavily favored, in October largely intact, and the December “valuation of the third cut of the rate”, after which it rejected in it as the day passed. “It was unstable this morning … Let him settled,” he warned, adding that Jackson Hole’s comments next week with chairman Powell are the next main catalyst of Macro.

Technically, Kevin’s checklist for Ethereum does not change with one data printing. He emphasizes two confirmations: remove the horizontal supply of around 4,700 USD with authority and “Break a weekly decrease to RSI” to annul the bears of discrepancies that remained from Q1 2024. “Resistance is resistance until it is,” he said. Failure, and ETH risks another correction leg, because delayed long are pushed out in the worst possible place. He succeeded and “the whole conversation changes”, opening the path to what he calls “a real bull” in ETH and, thanks to the foot effect on the wider Alt market.

Loses the fate of Eth with a wider market structure, without diluting the focus. In total, the 2nd ETH-Plus-alts representative-“increased to 1.69 trillion” against a well-telegraph groundbreaking trigger with “1.72 trillions”, while tapping his own weekly leaving RSI. The inability to move the last few dozen billion along with the shock PPI explains the sudden reversal of ETH and Alts. Kevin also marked Stablecoin dynamics and seasonal liquidity as variable in the background, noting that the domination of USDT remains increased, and September “usually” is not a great month, because time-honored funds return from summer, manage taxes and prepare for the risk of Q4.

He operationally claims that the right commercial place is behind us, not in resistance. “There is no reason to buy at these crazy levels,” he said, advising patience for anyone who is set from the lower. His frames are plain and strict: watch the weekly ETH chart, 4700 $ team and RSI trend line. If the macro “remains stable”, he expects breaks; If you get worse, the session again again. Either way, the verse does not come from the noise of less time, but ETH finally solves a four -year wall.

“Focus on these charts and nothing more,” Kevin summed up. For Ethereum, this means one test, one level and one signal: clear USD 4,700 and withdraw the discrepancy – or wait.

During the press, ETH traded for USD 4619.

A distinguished painting created from Dall.e, chart from tradingview.com