Ethereum is currently trading closely correlated with its big brother Bitcoin. Bitcoin is attempting to break to new highs, and Ethereum tends to pull back significantly when Bitcoin retraces. It is possible that some liquidity has shifted from Ethereum to Bitcoin. Therefore, Ethereum is struggling to rise in price at the moment and experiences noticeable downward corrections when Bitcoin retraces. I am optimistic about the growth prospects of Ethereum, but these prospects are more likely to materialize in the second half of this year. For now, it is crucial to maintain positions above $2500 to prepare the ground for further growth towards the resistance levels at $2750 and $2850. Ideally, I would like to see Ethereum reach the $3000 mark within a month.
