Ethereum Struggles to Break $4,000 Amid Broader Market Gains
Ethereum's performance has lagged behind the broader cryptocurrency market, struggling to break past $4,000 and remaining below its 2021 peak of $4,800. A crypto analyst, ProjectW, suggests that long-term conditions may favor a resurgence.
- Ethereum's consolidation within a broad trading range could precede significant price expansions.
- A retest of sub-$3,000 might provide liquidity to push Ethereum past $4,000.
- Ethereum is underperforming against Bitcoin, with the ETH/BTC trading pair in a bearish structure.
- A potential reversal zone around $2,700 could indicate a structural shift if stabilization occurs.
- Recent negative narratives about Ethereum may represent a deliberate effort by institutions to accumulate at lower prices.
- Despite sentiment challenges, Ethereum retains strong fundamentals, including deep DeFi liquidity and a robust developer ecosystem.
- ProjectW advises monitoring Ethereum's progress for signs of an upward trend.
