Ether (ETH) is experiencing a positive trend in recent weeks, as indicated by CryptoQuant analyst Shayan and the network’s dynamics. Although ETH hit a six-month high on November 28, rallying close to $3,700, it has since retraced to $3,540. Funding rates suggest ETH could reach a new high by the end of 2024, indicating potential short-term risks.
The cryptocurrency is not yet overvalued, and there is room for further growth in both price and sentiment. ETH’s current consolidation phase, with a 4% plunge from $3,680, makes it unclear if it will continue consolidating or move upwards due to flows into the U.S. spot Ethereum exchange-traded funds market.
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<p>The post Ethereum’s Positive Momentum and Room for Growth first appeared on CoinBuzzFeed.</p>
