The Ethereum (ETH) price has been struggling to maintain its bullish momentum, leaving investors wondering if it will eventually reach $4,500. Despite the approval of the spot ETH ETF, the price failed to surpass the critical $4,000 resistance level, leading to a 6% decline and a significant reduction in trading volume. This raises concerns about the sustainability of the current rally.

The ETH price is currently trading above the support zone, which ranges from $3,657 to $3,706, characterized by a decrease in both volume and volatility. Technical indicators, such as the on-balance volume and MACD, suggest a bearish shift in the trend, implying that negative pressure is gradually accumulating.

The failure to surpass the $4,000 resistance level and the subsequent decline have cast doubts on the sustainability of the current rally. However, the long-term price action still points towards a bullish continuation, albeit with the necessity of a pullback to attract fresh liquidity.

The market's ability to maintain its bullish momentum remains uncertain, with both bulls and bears displaying minimal activity and lacking any significant price action. The sluggish market behavior has raised concerns about the potential for the rally to encounter resistance at local support levels.

Despite the current uncertainty, the significance of Layer-2 protocols in the Ethereum ecosystem has been highlighted by Vitalik Buterin, emphasizing their role in scaling and improving the network's efficiency. BlackRock, the world's largest asset manager, is also pushing forward with its Ethereum ETF, the iShares Ethereum Trust (ETHA), following the regulator's approval.

The Ethereum price movement has been a subject of interest for many investors and traders, with some predicting a major upside break. However, the current market conditions and technical indicators suggest a bearish shift in the trend. As the market continues to evolve, it remains to be seen whether the ETH price will eventually reach $4,500.

The significance of Layer-2 protocols in the Ethereum ecosystem cannot be overstated, and their role in scaling and improving the network's efficiency is crucial for its future growth. The potential approval of Ethereum ETFs is also a positive development, offering investors a new way to gain exposure to the cryptocurrency market.

The Ethereum (ETH) price will depend on various market factors, including the overall sentiment and momentum. While the current trend suggests a bearish shift, the long-term potential of the Ethereum ecosystem remains promising. As the market navigates this period of uncertainty, investors and traders will be closely watching the ETH price movement, hoping to capitalize on any potential gains.

In conclusion, the Ethereum (ETH) price struggles to maintain its bullish momentum, leaving investors wondering if it will eventually reach $4,500. While technical indicators suggest a bearish shift in the trend, the long-term price action still points towards a bullish continuation. As the market navigates this period of uncertainty, the significance of Layer-2 protocols and the potential approval of Ethereum ETFs may play a crucial role in shaping the future of the Ethereum ecosystem.