Ethereum (ETH) has been facing a resistance zone of $28,000 since August, with prices fluctuating between $2.2 and $2.8. Rising leverage shows an active derivatives market, but a breakout is less likely.

ETH has underperformed relative to Bitcoin, and its future could be affected by the Dencun upgrade and inflation concerns.

While the upgrade has the potential to boost demand, the current lack of organic demand and L2 participation remains a challenge. Overall, bulls seem to have difficulty pushing prices above $29,000 #BTC要挑战7W大关了吗？ #DOGE飙升 #特朗普家族加密项目