While many are optimistic, some analysts offer a more cautious perspective. Carl Moon, for instance, points to a rising wedge pattern on the four-hour Ethereum chart, a bearish indicator suggesting weakening bullish momentum. He warns that unless ETH breaks decisively out of this formation, it could see a drop towards the $2,200 level.
Despite these differing price forecasts, the underlying health of the Ethereum network appears robust. Crypto analyst CryptoGoos notes that daily transactions are nearing all-time high levels last seen in 2021, a metric often preceding major price movements. This sentiment is echoed by Crypto Rover, who highlights active addresses on the Ethereum network reaching new all-time highs, suggesting that ETH below $3,000 presents a compelling opportunity. Additionally, Ethereum liquid staking is approaching historic levels, with 35.5 million ETH now locked, further underscoring the network's increasing utility and investor commitment.