Ethereum recently saw a massive 21% jump from its low of $1380, fueled by positive news on global trade. But is this a real turnaround, or just a temporary blip?
A Quick Rebound, But Challenges Remain
While the price increase was exciting, Ethereum is still trading below key levels. Analysts are cautious, noting that the price needs to break through the $1800-$2000 range to confirm a real recovery. The overall picture still points to a period of consolidation rather than a clear upward trend.
The Intriguing On-Chain Data
Here’s where things get interesting. Ethereum’s price is currently below its realized price – the average price at which all existing ETH was last bought. Historically, this situation has been a great time to buy, happening only once per market cycle. Some believe this presents a rare opportunity for long-term investors.
Ethereum’s Rollercoaster Ride
Ethereum has been on a wild ride lately, losing over 60% of its value since December. Global trade tensions and economic uncertainty have hit the crypto market hard, especially altcoins like Ethereum. However, the recent bounce above $1400 suggests some buyers are stepping in.
A Top Analyst’s Take
Analyst Quinten Francois points out that Ethereum trading below its realized price is historically a rare buying opportunity – maybe even a once-in-a-lifetime chance for long-term investors to accumulate ETH at a discount.
Key Price Levels to Watch
Ethereum is currently around $1650. To confirm a bullish trend, it needs to break above $1850. This level aligns with important moving averages that have acted as resistance. Failing to break above $1750 could lead to another price drop, potentially below $1500. The market is still uncertain, and a decisive move above resistance is crucial for a positive shift in sentiment.
