Ethereum's Recent Decline

Over the past month, Ethereum [ETH] has experienced a strong downtrend, with the altcoin trading at $2,289 as of the time of writing, marking a 5.41% decline over the past 24 hours. This is despite the broader cryptocurrency markets seeing high fluctuations.

Trading Volume Surge

Despite the prevailing bearish trend, an increase in trading activities shows ETH's signs of life. Over the last 24 hours, trading volume has surged by 81.42% to $13.67 billion, indicating potential buying activities that could lead to a rally.

Analyst's Prediction

Popular crypto analyst Javon Marks believes that despite ETH's struggles, the altcoin could rally to $4,723.5, citing the 2023 cycle where ETH made 165% gains. This prediction is based on the belief that ETH's future performance could mirror its past success.

Source: https://ambcrypto.com/despite-ethereums-recent-decline-why-eth-can-still-reach-4-7k/

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