Ethereum (ETH) is currently showing stability around $3400, and this sideways consolidation may indicate an impending significant breakthrough. On-chain data shows that large investors' open interest is steadily increasing, suggesting that market confidence is building.

In terms of technical indicators, both MACD and RSI are signaling a bottom, providing technical support for a potential upward trend. Meanwhile, market expectations for Ethereum ETFs are heating up, which could become another catalyst for driving prices higher.

Considering these factors, although it seems bold, the possibility of the ETH price doubling before the end of the year cannot be ignored. Current market sentiment still carries some panic, but as the investment community often says, 'I am greedy when others are fearful.'

However, investors should keep in mind that the cryptocurrency market is highly volatile, and high returns often come with high risks. Before making any investment decisions, it is essential to conduct thorough research and risk assessment. In the coming months, closely monitoring the price trends of ETH, regulatory developments, and the broader macroeconomic environment will be a wise move.