Ethereum is facing challenges in reaching a new all-time high (ATH) this cycle, with analysts suggesting the possibility of running out of time.
ETH closed April slightly below its opening price, marking the fifth consecutive month of negative returns for the cryptocurrency.
Analysts note that historically, May has been a positive month for Ethereum, with the potential for a 27.31% increase.
While some analysts anticipate a mid-term bounce for Ethereum with a target of $2,500, others suggest the possibility of ETH not hitting a new ATH this cycle, considering a potential longer-term accumulation phase.