Ethereum (ETH) recently declined by 6%, retreating to $3,600 after the Federal Reserve hinted at reducing its rate cut frequency in 2025. The hawkish decision caused ETH's Weighted Sentiment to hit lows last seen in December 2023, raising questions about Ethereum price prediction.
The second rejection at the yearly high resistance of $4,093 has added to Ethereum’s sluggish performance. Despite Bitcoin’s consistent gains and new all-time highs, Ethereum has struggled to break the $4,000 barrier. ETH’s muted momentum has persisted even amid bullish developments, including Deutsche Bank's announcement of building a Layer-2 blockchain on Ethereum using ZKsync technology.
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In the short term, analysts predict further corrections. Ethereum’s price chart shows bearish signals, including a double top pattern and RSI divergence. A potential drop to $3,400 is forecast, with major support levels at $3,200 and $3,000.
However, Ethereum ETFs have maintained a positive trend, recording $144.7 million in net inflows recently, marking 17 consecutive days of growth. Long-term holders also show resilience, holding 90% of ETH in circulation.
While ETH’s price prediction remains cautious for 2024 and 2025, these metrics could spark a rebound, raising hopes for Ethereum to reach a new all-time high by 2030. Will Ethereum go up? With strong accumulation and ETF inflows, the long-term Ethereum price prediction remains optimistic.