Ramazan Eles 
Experts have suggested that while Ether (ETH) could potentially reach $3,000, any significant price increase is unlikely to occur before October.
Despite the presence of spot Ethereum ETFs in the U.S., Ether’s price has fallen short of expectations, losing its critical support level of $2,600. Crypto analysts believe that ETH, the leading altcoin, may remain in a consolidation phase for the time being.
Popular trader Elja Boom predicts that the anticipated Ether price rally has been postponed to the fourth quarter of 2024. Addressing his followers on the X platform, Boom stated:
“ETH is still trading above its 50-day EMA (Exponential Moving Average) support level. The price capitulation has already happened, and now we’re in a dull phase where the price continues to move within a certain range. I don’t foresee a breakout before Q4.”
Ether (ETH) Remains in a Calm Before the Storm
Sharing a similar outlook, crypto analyst Aurelie Barthere predicts that Ether (ETH) is set to face tough challenges ahead. Barthere noted that ETH’s outlook appears weak, telling Cointelegraph:
“$2,700 is the next resistance level for ETH, and there’s insufficient evidence to suggest it will break through. The price hasn’t held above this resistance with enough duration or volume.”
Bearish Sentiment Dominates Ether’s Prospects
According to Coinglass data, if ETH manages to surpass the $2,700 resistance, $481 million worth of leveraged positions will be liquidated.
Mizuhara, an analyst known for his bearish views, argued that ETH’s price signals a potential correction. He warned that if the downward trend continues, ETH could fall below $2,000.
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