Because we have seen a good fundamental of the Ethereum's network after the Dencun upgrade and also the solid growth on its network's usage, let's jump out to the technical analysis.
All we know here is that the price of ETH is lagging behind BTC. As of now, BTC has tested the previous ATH at $69k while ETH is still having a struggle time to break above its 78.6% fibonacci correction level.
In the long run perspective, it's not a big deal in my opinion. Sooner or later, we will see the price of ETH to break its ATH and continue higher.
The beginning of the altcoin season will be marked with the crazy bull run on ETH and I think that it will occur pretty soon.
The target for Golden ratio team is $7.3k for the safe bet and it can goes higher to nearly $8.8k if we see an extended move at the end of this bull market cycle.
