Analysts Turn Bullish on Ethereum Despite Bear Market Performance

Crypto analysts have turned bullish on Ethereum (ETH) despite its bearish market performance so far in 2026, down over 10% year-to-date.

The Analyst Consensus Index, which measures the net balance of bullish and bearish sentiment among tracked analysts, has been on a 'Buy' consensus since July 29, when ETH price traded at $1,908. As of September 23, the daily crypto market sentiment metric showed a strong bullish bias, with an hourly sentiment score of +59, indicating a 'Strong Buy' sentiment.

Top analysts such as Raoul Pal and Rekt Capital have expressed optimism about Ethereum's prospects, citing factors like renewed demand from US spot Exchange-Traded Funds (ETFs) and regulatory clarity in the United States. The Ethereum network has also seen significant growth in tokenization of real-world assets, with over $16.6 billion in RWA based on data from RWA.xyz.

Wall Street analysts have turned strongly bullish on ETH price, which has rallied by more than 33% over the past six months and is currently trading at around $2,660. However, it's essential to note that the market can be volatile, and investors should proceed with caution.