Ether could remain rangebound over the coming weeks as macroeconomic uncertainty and regulatory developments appear largely priced in, according to Swyftx lead analyst Pav Hundal.
Hundal said geopolitical tensions including escalating issues around Iran and progress on the proposed US CLARITY Act have already been absorbed by the market, limiting the likelihood of sharp near-term moves.
“A lot of near-term uncertainty is priced into Ethereum,”
Said Swyftx lead analyst, Pav Hundal.
He added that it “would not surprise me at all if ETH remains pretty subdued over the next few weeks,” arguing that the market is still digesting October’s $19 billion liquidation cascade and a sharp deterioration in consumer sentiment.
“Ethereum is facing a double whammy in the short term,”
Said Swyftx lead analyst Pav Hundal, adding that:
“October’s liquidation cascade removed $19 billion from the market, and now consumer sentiment has dropped to levels we’ve not seen since 2022,”
While warning that traders are overlooking sentiment as a core driver.
The Crypto Fear & Greed Index recently registered an extreme fear reading of 13, underscoring caution among retail participants even as BitMine Immersion Technologies expanded its treasury by 45,759 ETH to a total of 4,371,497 ETH, equivalent to roughly 3.62% of the 120.7 million Ether in circulation.
Ether has fallen 56.8% from its October peak near $4,687 while Bitcoin has climbed to a record $126,100, and although the ETH/BTC ratio has risen 3.58% over the past week, Hundal said any sustained outperformance against Bitcoin “is where things can get potentially explosive” for experienced investors.
At the time of reporting, Ethereum price was $2,038.30.