Ethereum Remains Below All-Time High as Analysts Set $7,000 Target

Ethereum is currently trading at $3,302, underperforming compared to the broader crypto market. Concerns arise as ETH has dropped 29% in less than a month, testing investor patience. Despite this, analysts suggest that current metrics indicate potential for recovery.

Key Points

Ethereum is significantly below its all-time high (ATH), indicating room for growth.
Analyst Carl Runefelt projects a $7,000 price target based on fundamentals and historical cycles.
ETH holds above a critical support level near $3,127, suggesting buyer activity remains strong.
A breakout above $3,520 is necessary to shift sentiment and establish an uptrend.
A failure to break this resistance may lead to continued consolidation.

Investors with a long-term perspective may view Ethereum's current underperformance as a strategic entry point amid shifting market sentiment.