Ether (ETH) price reclaimed the $2,000 support on March 24 but remains 18% below the $2,500 level seen three weeks ago. Data shows Ether has underperformed the altcoin market by 14% over the past 30 days, leading traders to question whether the altcoin can regain bullish momentum and which factors might drive a trend reversal.
Ether/USD (left) vs. total altcoin capitalization, USD (right). Source: TradingView / Cointelegraph
Ether appears well-positioned to attract institutional demand and significantly reduce the FUD that has limited its upside potential. Critics have long argued that the Ethereum ecosystem lags behind competitors in overall user experience and still offers limited base-layer scalability, which has negatively impacted network fees and transaction efficiency.
Will the Ethereum Pectra upgrade impact ETH price?
Many of the Ethereum network’s challenges are expected to be addressed in the upcoming Pectra network upgrade, scheduled for late April