ETH may not reach $3.2k due to weak trader conviction and competition with Solana ETF.

ETH failed to break $2,600 due to weak trader conviction. Solana ETF launch weakened ETH’s dominance, hindering a rally to $3,200. Despite a 9% gain, ETH futures data signals low confidence. Golden cross formation suggests potential bullish momentum. Solana DApps generate more revenue, but ETH’s layer-2 shift impacts demand.

Read more at Cointelegraph: ETH Rally to $3.2K Unlikely Based On Data