Ethereum is currently trading below its previous highs as it remains in an ascending channel, signaling a potential pullback before a possible breakout. Analyst Carl Runefelt indicates that while there's cautious optimism in the market, there's also a risk of a temporary price dip.
The coming weeks are crucial for Ethereum as it aims to reclaim its firm market position. Many traders and investors are expectantly watching ETH, especially with the anticipated altcoin rally in 2025.
Ethereum's price is consolidating around $3,650, maintaining support over its 4-hour 200 moving average. A solid hold at this level indicates strong buying interest, but failing could test buyer resilience as it may push downward towards the $3,500 demand level.
