The analysis identifies a recent breakout in Ethereum, holding above 4480, with a current price of approximately 4733. The analyst expects a rally to 4800-4900, followed by a pullback to 4600, then a further potential drop to 4450-4480. Following a bullish hold on 4450-4480 levels, there is an expectation of a rally to 5140 . Fair value gaps and single prints to the downside also exist. The analysis considers the influence of the FOMC meeting, anticipating potential de-risking, before a continuation of the breakout. Lower volume than previous breakouts is noted, along with significant open interest.