Ethereum’s Underperformance Sparks Optimism for a Major Comeback

Despite struggling in recent months and trailing behind Bitcoin and Solana in performance, Ethereum could be on the verge of a major recovery, according to a prominent crypto analyst.

While the price has been slow to rise, the expert predicts that Ethereum may surge to $4,000 before the current bull cycle concludes.

Crypto analyst Astronomer is confident that Ethereum’s price will soon recover, potentially revisiting the $4,000 level. The analyst points out that ETH is currently sitting at a critical support range between $1,700 and $1,900—levels that have historically been a catalyst for significant price surges.

Although Ethereum has lagged behind other assets like Solana, it’s still doubled in value since its 2022 lows, outperforming many altcoins.

Ethereum’s price trajectory is showing signs of a possible upward move. The asset is stuck in a wide price range between $1,700 and $4,500, but recent action near the lower end could indicate a potential turnaround.

The analyst suggests that reclaiming $2,100 could trigger a fast rally toward $4,000 in the months ahead. Ethereum’s fate may also align with Bitcoin’s recovery as market sentiment improves.

While many in the crypto community remain negative on Ethereum, the analyst views this bearish sentiment as a bullish sign. With fears surrounding Ethereum’s future and widespread doubts about its use case, Ethereum’s market sentiment has hit rock bottom, scoring just 14 on sentiment indicators.

Historically, such extreme fear has often been followed by sharp price rebounds, making the current situation one to watch closely for a potential rally.