Ethereum has climbed to $4,604, marking a 2.3% increase over the past 24 hours and a 15% rise for the week. Traders are eyeing the critical resistance zone between $4,650 and $4,700, which has been tested multiple times. A successful breakout could propel Ethereum towards the $4,900 to $5,000 range, while a failure might see it retesting support around $4,200. On-chain data reveals $53 million in liquidations in the last day, with $37 million from short positions, indicating a reduction in bearish sentiment.