Ethereum price measures in the midst of the broader crypto market Baisseish feeling in recent weeks has not been different from the performance registered in recent months. During this period, Ethereum’s price has struggled to gain significant upward speed, left in one Prolonged consolidation phase.
In the middle of this, a new analysis Through Cryptoquant, the contributor Mac_D has shed light on Ethereum’s current state and factors that can affect its future price track. The analysis notes that Ethereum’s story about the “ultrasound money”-a idea bound to its deflationary tokenomics after the merger-has met challenges.
The total supply has reached a record high and the Staking relationship has decreased by 1% since November. Despite these obstacles to the supply side, however, several factors on the demand side such as Ethereum may be placed for long -term growth.
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Undervaluation, proprietary behavior and institutional interest
Another important insight from the analysis is that Ethereum seems to be undervalued based on its realized price. The realized price reflects the average acquisition cost for ETH holdings over all wallets, which are currently at about $ 2,200.
With the current market price approximately $ 2,600, analysts calculate a market value at realized value (MVRV) slightly above 1, which indicates that ETH remains undervalued relatively historical norms. This level can act as a strong support base, potentially further restricts the disadvantage.
Another factor that supports Ethereum’s potential upside is the behavior of long -term holders. The analysis highlights an increasing number of addresses that accumulate Ethereum without selling, related to bitcoin “permanent holders.”
Although some major investors have sold during the recent declines, their positions have been absorbed by these long -term holders, which helps to stabilize the market. This trend suggests that Ethereum’s investor base matures, with a growing segment that is committed to maintaining access through market vollatility.
Ethereum: A major recovery on the horizon?
In addition, the analyst points out that sales pressure in the futures market has decreased. Data shows a remarkable reduction in market price volume on the sales page since Ethereum’s price close to $ 4,000 in November last year.
This decline in the sales activity, even when prices fell, signals a relative influx of purchasing power, which can set the stage for a recovery on Market conditions are improved.
Institutional participation is another encouraging factor. Large players, including Blackrock, Cumberland and other prominent companies, have reportedly gathered significant amounts of ETH during the last decline.
For example, Blackrock is said to have bought over 100,000 ethValued at more than $ 270 million. Such significant institutional inflows not only increase demand, but also provide credibility to Ethereum’s long -term investment dissertation.
Despite these positive indicators, the analysis recognizes the remaining challenges. The increase in the total supply and the small dip in the staking relationship can burden on the feeling, especially if macroeconomic conditions remain uncertain.
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In addition, Ethereum’s price movement can remain limited in the short term when the broader market melts ongoing economic changes. The combination of undervaluation, strong long -term holder, reduced sales pressure and institutional accumulation Paint a more optimistic view of medium to long term.
While Ethereum may continue to trade laterally in the short term, the factors described in the analysis indicate that it may be well positioned for growth when wider market conditions are stabilized.
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