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ETH The recent trend of Ethereum (ETH) has attracted attention, and analysts have different views.
After experiencing a sharp decline in recent months, Ethereum (ETH) has returned to investors 'attention. Analyst NoName, pseudonym, believes that Ethereum has hit the price range at the end of the historical bear market, and points out that in the long run, the $7000 target is still likely to be achieved. However, some analysts believe that the decline process is not yet complete and the market may reach new lows.
Analysts: Ethereum has entered the bottom area
Anonymous crypto analyst NoName said that the four consecutive lower highs formed on the Ethereum chart constitute a classic bear market structure. He pointed out that ETH prices reached lower highs at $4957,$3400,$2460 and $1950 respectively, continuing the long-term downward trend. After that, prices fell back into the $1300 to $1900 range, which is similar to the bottom area in past market cycles.
NoName emphasized that these levels reflect more investor psychology than technical indicators. He said that Ethereum, which used to be popular at the $4900 level, is now regarded as a "dead project" below $2000, which is a natural result of market psychology.
Not only technical analysis, but also on-chain indicators have begun to send signals worthy of attention. Analyst Ali Martinez pointed out that Ethereum's MVRV ratio has exceeded its 160-day moving average upwards, and historically similar signals have often appeared before sharp gains. In addition, the 30-day average funding rate of Binanhang has risen to its highest level in nearly six months, indicating that investor confidence in the futures market is recovering. According to CoinGecko data, as of the time of report, Ethereum was trading for just under $1900. Although it has risen by about 12% in the past month, it is still down more than 60% from an all-time high of about $4946.
Whales continue to buy, ETF inflows strengthen
Despite market uncertainty, large investors continue to accumulate Ethereum. Blockchain analytics platform Lookonchain found that a wallet purchased approximately 27000 ETH units through Galaxy Digital's over-the-counter trading counter. There are also reports that investor Arthur Hayes has also recently increased his holdings of hundreds of ETH holdings, further increasing his total position. Interest from institutional investors has been equally compelling. Net inflows into spot Ethereum ETFs exceeded $400 million this month, while investors on forecasting platform Kalshi expect ETH prices to reach around $3200 by the end of the year.
Despite Ethereum's optimistic expectations, not all market experts share the same view. Blockchain analytics firm CryptoQuant noted that ETH is currently trading at about 17% below its realized price, but indicators showing bottom formation have not been fully confirmed. The company believes that the real surrender process of the market is not yet complete.
Similarly, analyst Nonzee believes that Ethereum may rise to the $2000 to $2200 range in the short term, but this may be a bull trap rather than a sustained rise. He predicts that prices may first pull back to the $900 to $1300 range. Despite this, he has maintained Ethereum's $7000 goal for the long term.
Summary
Ethereum has entered a critical stage in terms of both technical and on-chain data. Some analysts view the current price region as a bear market bottom, while others believe it is too early to expect continued gains until a more intense surrender process occurs. Although whale buying, ETF inflows and positive on-chain signals support optimism, investors still need to be wary of high short-term volatility. Whether Ethereum can break through the US$2000 mark again will be an important indicator for judging the direction of the market.
