Ethereum price will stick below $3.5K until these 3 things happen
It will take more than Ethereum’s upcoming Pectra upgrade to turn ETH price around. Cointelegraph explains why.
Ether (ETH) price fell below $3,500 on Jan. 7 and has since struggled to trade above that level. The altcoin has declined by 8% over the past 30 days, while the broader cryptocurrency market capitalization increased by 6%. This underperformance is concerning for Ether investors, especially with the launch of the spot Ethereum exchange-traded fund (ETF) in July 2024.
Ether/USD vs. total crypto capitalization. Source: TradingView / Cointelegraph
Traders’ disappointment comes after a period of average Ethereum transaction fees exceeding $2, steady growth in the ETH supply, significant criticism regarding the lack of support from the Ethereum Foundation, and memecoin trading shifting to competitor blockchains, particularly Solana.
Go to Source
Author: Marcel Pechman
