• Ethereum holds steady above $4,000 with market confidence growing despite mixed short-term signals.
• Tom Lee’s bold forecast places Ether at $15,000 by year-end, sparking major investor optimism.
• Analysts note ETH stuck in a “chop zone,” awaiting confirmation for the next decisive breakout.

Ethereum is holding steady at a critical level, and there is a split opinion on what is next. Some think the price is set to go up further in the short term, while others think it could dip slightly before returning. The next few weeks will be critical in determining which direction Ethereum decides to take.

At the time of writing, Ethereum (ETH) is trading at $4,992 and has recorded a 24-hour trading volume of $56.91 billion with a market capitalization of $485.15 billion. The ETH has increased by 1.31% over the past 24 hours while holding stable above the critical $4,000 level.

Ethereum Poised For Massive Year-End Breakout

A well-known crypto analyst, Crypto Rover, pointed out a bold forecast from Tom Lee, who is forecasting ETH to reach $15,000 through to December. If such a milestone were achieved, it would be one of Ethereum’s largest ever price increases, securing it more firmly on the path towards challenging Bitcoin’s dominance of the markets.

Also Read | Ethereum vs Reality: Kang Challenges Tom Lee’s Bold ETH Claims

Ethereum Stuck In Chop Zone Awaiting Breakout

Meanwhile, another analyst, Alpha Crypto Signal, shared insights about Ether’s short-term market structure. He mentioned that ETH fell through a major horizontal support area, and as a result, the market still requires strong confirmation back to the upside.

According to him, a relief rally or a short-term bounce is achievable, but until ETH comes back above the lost support, the entire setup reflects more sideways movement or possibly a greater pullback.

He also spoke of a potential bottom forming in the boxed off area below the spot levels, where ETH needs to find new buying interest. Until then, Ether should remain in what he referred to as a “chop zone,” with movement of the price uncertain and without sharp direction.

The coming weeks will prove critical as ETH attempts to get back on track. With long-term predictions like $15,000 by December, contrasted with short-term loss fears, investors are still awaiting the next big move.

Also Read | Ethereum Price Faces Key Test at $3,650 as Mid-Sized Sharks Dominate Accumulation