Ethereum Is Down 30% From 2024 Highs: Why Is This Analyst Super Bullish?
Summary
Ethereum is currently trading close to $3,000, down 30% from its March 2024 high. The coin is in a bearish breakout formation, with concerns about its future gains due to competition from Bitcoin's layer-2 ecosystems and potential SEC classification as a security. However, an analyst remains bullish, dismissing Bitcoin's layer-2 ecosystem as inferior and unlikely to succeed. The analyst also believes that Wall Street support and the launch of Ethereum exchange-traded funds will drive Ethereum's growth, while downplaying Solana's strengths.
