Analyst: ETH likely to trade sideways for now

ETH is expected to trade sideways for the time being, according to Swyftx analyst Pav Hundal. In an interview with Cointelegraph, Hundal said that short-term uncertainty has already been priced into the market, adding that it would not be surprising if ETH does not move significantly in the coming weeks. He noted that geopolitical tensions related to Iran and progress on a U.S. bill on crypto market structure (CLARITY) have also been largely factored in. However, Hundal pointed to short-term pressures, explaining that market confidence has not fully recovered since a liquidation event worth around $19 billion last October and that consumer sentiment has dropped to its lowest level since 2022.