Ethereum eyes a potential new all-time high after a mild pullback

Ethereum recently corrected slightly after a broad rally, suggesting a pause rather than a reversal. Key drivers to watch include continued demand for ETH as a settlement layer for DeFi and NFT ecosystems, robust network activity, and potential macro factors like favorable liquidity conditions and risk sentiment. Technicals often show consolidation after sharp gains; a break above recent highs with high volume would be a positive signal. Risks include a broader market pullback, delays in network upgrades, or regulatory headwinds for crypto broadly. Overall, the setup favors a continuation scenario if buying interest remains steady and ETH can sustain above short-term resistance levels.