Ethereum Faces Bearish Sentiment Amid ETF Delays, Potential Rebound Expected at $2,500

Ethereum (ETH) has been facing significant bearish sentiment, with many market participants considering it oversold due to factors such as chain migration and ETF approval delays. Despite this, some analysts believe it is an opportune time to accumulate ETH at around $2,500, predicting a potential rebound. Historical data suggests that ETH's average October returns have been approximately 7.5%, and a push through $2,800 could signal a strong performance. Contrarian investors see the current negative sentiment as a setup for a potential bullish run, especially with the upcoming US Presidential Election potentially influencing market dynamics. Meanwhile, Solana (SOL) and Sui (SUI) have been receiving bullish attention, but some argue that ETH's higher reward potential makes it a compelling investment. ETH's performance could be driven by ETF buyers and overcoming massive range resistance from August 24. Investors are also looking to survive another bear cycle, expecting significant gains by the end of the year.