The Ethereum family token, Ether (ETH), witnessed the lowest weekly close to November 2023, which emphasizes how much the leading Altcoin has fought in the last few months.

Over the past 83 days, it has dropped by 51%, translating the average daily loss of about 0.61%. If the losses are folded every day, the rate increases to about 0.84%.

Ethereum Exchange of the outflows reached a 27-month level

According to INTOTHEBLOCK, a cryptographic analytical platform, Ethereum witnessed significant outflows worth $ 1.8 billion over the past week. It was the highest week from December 2022 in additionIN

“Despite the constant pessimism around ether prices, this trend suggests that many owners perceive the current levels as a strategic possibility of purchase.”

Cryptochant paints A similar picture. The 30-day straight average in Ethereum Netflows fell to about 30,000 ETH last week, which was recently registered at the end of December 2022.

Similarly, the MVRV Ethereum indicator (market value to the implemented value) dropped Up to 0.8 for the first time from October 18, 2023, as observed in the chart.

Related: Crypto ETP see 4 plain outflow week, a total of USD 876 million – Coinshares

The MVRV indicator is a measure calculating the ETH market price at the average price, at which the entire ETH has recently been moved in circulation.

The MVRV factor below 1 indicates underestimation, signaling the potential purchase. In the context, when the MVRV indicator dropped to 0.8 October 18, 2023, the ether registered the local bottom of nearly USD 1,600, followed by a stubborn reversal and the beginning of Bull Bull 2024.

Is the bottom of Ethereum in?

The ether price is currently consolidating near the psychological level of $ 2000, after a constant correction from the beginning of 2025.

In relation to this price, Mikybull, technical analyst, steering From the fact that Ethereum “shows stubborn reversal” with a diamond price pattern.

The diamond pattern after the tank suggests a potential stubborn reversal. Based on the measured goal of this pattern, Ether can affect about 20% to 2600 USD from the current price.

On the other hand, the weekly Ether table was closed below the 200-day EMA level for the first time since October 2023. Since 2020, the price of ETH remained under this indicator for less than 15% of time. Earlier, Ether reflected the next week every time he fell below this trend line in 2023.

Related: The Bitcoin “Monte Carlo” model forecasts 713 thousand. USD USD within 6 months

However, the extended period within this line may extend the target price of ETH. Therefore, it will be critical for Ethereum to affect this EMA trend to confirm the bottom in the next few days or weeks.

This article does not contain investment advice or recommendations. Each investment and commercial movement involves risk, and readers should conduct their own research when making decisions.