Ethereum Price Seen as Cheap, but Bottom Not Yet Reached
Ethereum's price is currently at $1,860, considered cheap by some, but onchain analytics platform CryptoQuant warns that the bottom hasn't been reached yet. The platform notes that Ethereum is trading 17% below its realized price of $2,300.
$1,860 current Ethereum price, below the seven-week high of $1,950 17% below realized price of $2,300 12% gain over the past 30 days
Live market snapshot (at publish): ETH $1,886.01 (-2.1% 24h) · BTC $65,420 (-0.5% 24h)
Selling pressure is easing, but capitulation is still missing, indicating that the market may not have reached its bottom yet.
"Selling pressure is easing. Capitulation is still missing.” — CryptoQuant, onchain analytics platform "Ethereum is cheap, but the data says the bottom isn’t in yet,” — CryptoQuant, onchain analytics platform The exchange inflow ratio is currently at 0.8, far above the low-pressure zone seen at past bottoms, which is around 0.4, suggesting further downside pressure ahead.
Ethereum is approaching undervalued levels relative to Bitcoin, which could point to lower downside pressure ahead.
"ETH is approaching undervalued levels relative to Bitcoin, which points to lower downside pressure ahead.” — CryptoQuant, onchain analytics platform Sharplink CEO Joseph Chalom believes that Ethereum has the characteristics that institutions need, which could support its price in the long term. "Ethereum has the characteristics that institutions need,” — Sharplink CEO Joseph Chalom, CEO, Sharplink
Analysis: If Ethereum's price continues to trade below its realized price, it may experience further downside pressure, potentially reaching the low-pressure zone seen at past bottoms. A break above the seven-week high of $1,950 could signal a trend reversal, with potential upside to the $2,300 realized price level. Investors should monitor Ethereum's price action around the $1,950 level, as well as the exchange inflow ratio and selling pressure, for signs of capitulation or a potential trend reversal.
Frequently Asked Questions
- Is Ethereum's current price a good buying opportunity?
- Ethereum's price is considered cheap, but onchain analytics suggest the bottom hasn't been reached yet.
- What is the current realized price of Ethereum?
- The current realized price of Ethereum is around $2,300.
- Is selling pressure easing for Ethereum?
- Selling pressure is easing, but capitulation is still missing, according to CryptoQuant.