Much like Bitcoin, Ethereum has faced significant challenges in recent months, struggling to sustain any major price rally. After reaching a peak of over $4,000 in March, Ethereum has been consistently declining, failing to break out of this bearish trend. So far, the second-largest cryptocurrency by market cap has seen its price drop by over 5.9% in the past two weeks, and it continues to hover around the $2,400 mark. Currently trading at $2,434, Ethereum has fallen 2.4% in the last week and 0.4% in the last 24 hours. Related Reading: Is Ethereum Headed For Trouble? Analyst Warns Of Surging Exchange Reserves Is A Rebound To $4,000 Around The Corner? Despite this downturn, market analysts remain optimistic about a potential turnaround. According to a recent post by ‘The Moon’ on X, Ethereum might be primed to rally back to $4,000—if certain technical conditions are met. Particularly, The Moon highlighted Ethereum’s current 1D Falling Wedge formation, a common chart pattern in technical analysis often indicating a potential reversal. The analyst stated, “Once a breakout occurs, there’s a strong possibility Ethereum could rise back to $4K. ..
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