After an incredible week where Ethereum (ETH) gained 14%, the crypto is finally slowing down. Ethereum managed to go from $1,053 to $1,261 in that time, but today it is down 0.13% with a rate of $1,206 (ETH/USD).

Ethereum’s Rapid Ascension

The ETH rate soared all week long, outpacing many of the other major cryptos, including Bitcoin (BTC) and Solana (SOL). Yesterday, Ethereum saw its biggest jump, with a 7.47% rate jump. We didn’t expect that to last and predicted that Ethereum would soon stop gaining from day to day.

Ethereum is still not back to where it was before the market crash last month, despite its fantastic gains over the week. So, even those positive numbers are not enough to call its progress a recovery and investors who lost so much Ethereum value in the crash are still hurting.

Running out of Steam

Today marks the end of Ethereum’s valiant efforts to bounce back after the most recent crash. Its upward momentum has finally stopped, and while there is a chance for Ethereum to keep on pushing upward through the weekend, we don’t think that is likely.

Trade volume is high for Ethereum at the moment, up 34% over the last 24 hours, but we don’t expect that to last either. That is a trade volume of $17.3 billion in that same period, which is why Ethereum is holding on to the #2 spot in the crypto market, btu the overall market is still way down for the year.

Even though this week has seen some good numbers from many of the cryptos, the positive performance isn’t expected to last much longer, and we may be seeing the gains that started from the beginning of the month finally slow down.

Where Is Ethereum Going from Here?

Ethereum’s rate is above $1,200 right now, but not by much. We expect that the ETH rate will dip below that point by Monday, and there is little expectation from analysts that Ethereum will continue moving up. The entire crypto market has just been so poor lately, coupled with a slow global economy, so there is an expectation that any gains we see, and any upward movement, will not last. If the ETH rate somehow manages to push past $1,300 over the next week, that would really surprise us.