Over the last 24 hours, Ethereum has seen a decline of 5.41%, following a prevailing bearish trend that has impacted its market performance.
Despite this downtrend, a market analyst remains optimistic about Ethereum's prospects, predicting a potential rally that could drive the cryptocurrency's value up to $4.7K.
This optimistic outlook is based on various market indicators and projections, which suggest that Ethereum possesses the resilience and market fundamentals required for a substantial price increase.
The prediction aligns with broader market analyses that have historically shown significant price rebounds in Ethereum during similar market conditions.
