Ethereum needs more blockchain activity, adoption, to recapture $4K
Ether faces significant resistance at $3,400, with over $1 billion worth of cumulative leveraged shorts set to be liquidated.
Ethereum needs stronger blockchain activity, new use cases, and collaboration with public and private interests to regain investor confidence and reclaim its previous all-time high, analysts told Cointelegraph.
Ether (ETH) has been in a downtrend for nearly six weeks, falling below the $4,000 psychological mark on Dec. 16, 2024. The world’s second-largest cryptocurrency declined more than 20% since, trading at $3,260 at the time of writing, Cointelegraph Markets Pro data shows.
ETH/USD, 1-day chart. Source: Cointelegraph/TradingView
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Author: Zoltan Vardai
