Ethereum Price Prediction: ETH may experience a short-term pullback, but the long-term upside potential remains intact, and it could quickly return to 4000 USD.

Ethereum (ETH) has temporarily paused its upward momentum, currently reported at $3,687 in the early European trading session today (23). CryptoQuant analyst Crypto Dan stated that Ethereum may face short-term pullback pressure after its recent rise. He warned in his report that the rapid surge of ETH in recent days has increased the likelihood of a temporary price retracement.

Dan pointed out: "Ethereum has seen a significant pump recently, so the risk of a short-term pullback still exists."

However, he also emphasized that from a broader time frame, the current pump space is still relatively moderate. "If we look at a slightly larger time frame, the current increase is still too small."

Ethereum's trading price this week once broke through $3,750, setting a new high since January.

The inflow of Ethereum ETFs has reached an all-time high, and the broader altcoin market has entered a period that many refer to as "altcoin season." Ethereum's technical strength has sparked optimism about its potential to quickly return to the $4,000 level, but analysts warn that profit-taking and market volatility could disrupt this trend in the short term.

Despite a cautious stance, the long-term fundamentals—from ETF inflows to the upcoming protocol upgrades such as Fusaka and Glamsterdam—continue to support the bullish case for Ethereum.

CryptoQuant points out that compared to the overheating of the futures market in March 2024 and November 2024, the current pullback is really too small. Even if a correction comes, it is likely to be shallow and short-lived.

Especially from the perspective of this cycle, the trend of Ethereum has been very weak. Although it is in an upward cycle, it has reached the undervalued zone and clearly hit the bottom. Therefore, the possibility of Ethereum further pumping in the second half of 2025 is very high.

(Source: CryptoQuant)

Ethereum challenges to break 4,000 USD

CryptoQuant analysts have not set any price targets for their latest Ethereum forecast. However, other analysts like Crypto Patel on X believe that ETH may soon approach its all-time high.

Crypto Patel pointed out that Ethereum "cleanly and neatly" broke through $4,000, which may trigger the next altcoin season. Previously, he had told people that this event could raise the market cap of altcoins to $5 trillion.

Nevertheless, analysts warn investors to do their own research, as their views are based solely on specific technical patterns, which may overlook other factors such as macroeconomic and regulatory events that could affect public sentiment towards ETH and other digital assets.