Ethereum Experiences Seller Surge, Yet $5K End-of-Year Goal Stays Steady

Despite a recent downturn, with Ethereum (ETH) falling to a four-month low of $3,160, market analysts remain hopeful for the cryptocurrency's upward trajectory, maintaining a year-end target of $5,000. Despite heavy volatility and a market dominated by sellers, analysts view this as controlled profit-taking within an ongoing uptrend, expecting strong buyer interest to resume the climb towards $5,000. The network's fundamentals have weakened, with daily active addresses dropping by 24% since mid-August, and Ethereum has underperformed compared to Bitcoin's modest rebound. However, it is trading above its two-year trendline support, which many consider to be the last major defense before a potential bounce. Despite mixed sentiments and macro pressures, if Ethereum can defend its current support and regain key resistance zones, the $5,000 year-end target remains feasible.