The cryptocurrency market is known for its unpredictability, and Ethereum, the largest altcoin by market capitalization, is no exception. Despite its recent struggles, Ethereum has been the subject of much debate and speculation, with some experts predicting a bright future while others are more skeptical. In the last seven days, Ethereum's price has dropped by over 3%, a trend that has left investors worried about their past losses.

On June 28, Ethereum's price action took a bullish turn, giving investors hope for a recovery. However, this trend was short-lived, as the coin experienced a price correction soon after. As a result, both its weekly and daily charts are flashing red, indicating a bearish trend. Ethereum's bears have pushed the altcoin's price down by more than 3%, with the king of altcoins currently trading at $3,391.51 and a market capitalization of over $407 billion.

According to a tweet by ZAYK Charts, a popular crypto analyst, Ethereum's price started consolidating inside a bullish wedge pattern in late May. A successful breakout from this pattern could have resulted in a 30% price rise, potentially pushing Ethereum's price past $4,000. However, Ethereum got rejected from the upper limit of this pattern, indicating a lack of momentum to push the price higher.

Despite this rejection, some experts believe that Ethereum is undervalued, hinting at a potential recovery on the charts. One key metric that suggests this is the token's consolidation inside the bullish wedge pattern. This consolidation indicates that Ethereum's price is preparing for a potential breakout, which could result in a significant price rise.

Ethereum's future is uncertain, and its price fluctuations are influenced by a combination of factors. One of the main factors affecting Ethereum's price is its market capitalization. With a market capitalization of over $407 billion, Ethereum is the largest altcoin by market capitalization, and its price movements have a significant impact on the overall cryptocurrency market.

Another factor influencing Ethereum's price is its use case. Ethereum is not just a digital currency but also a decentralized platform that enables the creation of smart contracts and decentralized applications (dApps). This use case gives Ethereum a unique value proposition, and its price is influenced by the demand for its platform.

The cryptocurrency market is highly volatile, and Ethereum's price fluctuations are no exception. Despite its recent struggles, Ethereum has the potential to recover and reach new heights. Its use case, market capitalization, and consolidation inside a bullish wedge pattern all indicate that Ethereum's price could rise in the future.

In conclusion, Ethereum's price fluctuations are influenced by a combination of factors, including its market capitalization, use case, and technical analysis. While its recent struggles have left investors worried, Ethereum's potential for growth and recovery cannot be ignored. As the cryptocurrency market continues to evolve, Ethereum's future remains uncertain, but its potential for growth and adoption make it an exciting and promising investment opportunity.