The price of Ethereum, among the wider moods on the cryptographic market in recent weeks, has not been different from the results registered in recent months. During this period, the price of Ethereum tried to get a significant rush up, remaining in the prolonged phase of consolidation.

In the latter analysis Through the contribution of Cryptochan Mac_D he shed delicate on the current state of Ethereum and factors that can affect his future price trajectory. The analysis notes that the narrative of “ultrasound money” Ethereum-Pomysł associated with its tokenomics after Merge-Wała before the challenges.

Total supply reached a record high, and the pond factor dropped by 1% from November. However, despite these obstacles on the supply side, several demand factors suggest that Ethereum can be set to a long -term growth.

Underestimation, holder’s behavior and institutional interest

Another key view of the analysis is that Ethereum seems underestimated based on its completed price. The completed price reflects the average cost of acquisition of ETH resources in all portfolios, currently of $ 2,200.

At the current market price, approximately 2600 USD calculates the market value to the implemented value (MVRV) slightly above 1, which indicates that ETH remains underestimated in relation to historical norms. This level can act as a powerful support base, potentially limiting further disadvantages.

Another factor confirming the potential position of Ethereum is the preservation of long -term owners. The analysis emphasizes the growing number of addresses that accumulate Ethereum without sales, similar to Bitcoin’s “regular owners”.

Although some larger investors sold themselves during recent crises, their positions were absorbed by these long -term owners, helping to stabilize the market. This trend suggests that the Ethereum investors base matures, and the growing segment has committed to maintaining assets through market variability.

Ethereum: Grave reflection on the horizon?

In addition, the analyst indicates that the pressure of sales on the Futures contracts market has softened. The data show a significant reduction in market price volume on sales side, because the price of Ethereum nearly USD 4,000 in November last year.

This decrease in sales activity, even as the prices decrease, signals a relative flow of purchasing power, which can prepare the land for recovery if the market conditions improve.

Institutional participation is another encouraging factor. The main players, including Blackrock, Cumberland and other outstanding companies, reportedly gathered significant amounts of ETH during a recent slowdown.

For example, it is said that Blackrock bought over 100,000 ETH worth over $ 270 million. Such significant institutional influences not only enhance demand, but also give the credibility of Ethereum long -term investment work.

Despite these positive indicators, the analysis recognizes persistent challenges. The enhance in total supply and a slight immersion of the joint coefficient may weigh the mood, especially if macroeconomic conditions remain uncertain.

In addition, the Ethereum price movement may remain confined in a tiny period, because wider market is digesting ongoing economic changes. However, the combination of underestimation, powerful long-term owner’s participation, reduced sales pressure and institutional accumulation paint more positive medium and long-term perspectives.

While Ethereum can still trade sideways in the near future, the factors presented in the analysis suggest that it can be well prepared for growth after stabilizing wider market conditions.

A distinguished picture created from DALL-E, chart from TradingView