Ethereum Price Below $2,000 Triggers Bullish Signal After 2 Years | Airdrop Alert Pro

The price of Ethereum (ETH) has dropped significantly, falling from $2,800 to about $1,900 in recent weeks. This decline triggered a major bearish signal, the first in two years.

However, current price action may also indicate that recovery may be within range.

Ethereum has recovered lenses

Prices of Ethereum Recently, for the first time in two years, this development has attracted the attention of some investors. This decline has brought the market value to a realization value (MVRV) down, indicating that investors are facing a loss of about 7%.

While it may seem bearish at first glance, it actually presents a potential bullish signal. Ethereum has faced this situation before, with Altcoin rebounding strongly, and the MVRV ratio has increased as prices recover. This model has led some market participants to hope that the current situation may lead to a similar recovery.

On the macro level, Overall momentum of Ethereum Despite recent declines, signs of improvement are still shown. The net position change in exchange is tracking the flow of ETH in and out of the exchange and has been declining.

This shows that investors are accumulating Ethereum rather than selling it, which is a positive signal. Investors see current low prices as an opportunity to buy, and expect prices to rise in the future.

This shift in investor behavior is reflected in the purchase of 138,000 ETH this week at a value of about $262 million. The inflow of capital into Ethereum has supported many investors’ ideas for positioning themselves for the rebound.

Eth Price’s Eye Rally

Ethereum is currently Trading at $1,897, down 32% over the past two weeks. Altcoin’s support level is $1,862 higher, which may be the basis for a potential rebound. If Ethereum maintains this level, it could hit higher prices in the next few weeks.

In order for Ethereum to confirm recovery, it must violate $2,141 support. For ETH, it is crucial to move towards $2,344 and ensure a more sustained upward movement. Factors discussed include RSI Recovery and investor accumulation are likely to help Ethereum’s ability to achieve this goal.

However, if the broader market conditions worsen, Ethereum can Below $1,862 support pushes the price to $1,745 or even $1,625. These levels of decline will invalidate the bullish outlook and propose further downside potential.