In theory, in the world of cryptocurrencies everything is possible but it is more likely in my opinion that it will soon rise above $3k again and from there if it remains stable for a while $4k by mid-year is possible
Anything can happen in the crypto world, and ethereum does have the potential to rise again if there is good news. even though it seems to be struggling, ethereum remains the number one altcoin.
I also still hold ethereum but not much, because I prefer solana and XRP and most of my crypto assets are in bitcoin.
Unfortunately, there's not so much good news coming in for Ethereum that's why we are seeing it declining especially in the past few weeks.
Many expected that Ethereum's price will go up because of the Spot Ethereum ETF being accepted, but that isn't the case at all. Because of this declining movement, there are some who are already thinking if buying Ethereum for the short term is still a good idea or they would rather hold other coins like SOL, XRP or even LTC. As for me, ETH is a good long-term coin to hold.
We need a catalyst, and I believe that if Ethereum pumps up in price, most of the altcoins will follow hence, the start of the altcoin season. I don't know when, but it might happen. I also looked at the price of ETH and it's already had a more than 50% decline since its recent high of near $4,000. If you're a firm believer of ETH, you might get an easy 50% profit if you buy it now and hold it until those ATH reaches again. It's only a matter of when.