Ethereum (ETH) failed to regain positions above $2000, falling to a multi-year low. Technical analysis points to the possibility of further declines.
Ethereum Below Realized Price
Ethereum fell below its realized price of $2054 for the first time since February 2023, indicating an unrealized loss for all ETH holders. The MVRV ratio also dropped to 0.93, reflecting a 7% average loss for holders.
Ethereum Target Prices
According to Glassnode, Ethereum's recent dip to $1880 has led to the accumulation of 600,000-700,000 ETH, potentially establishing support around $1,900. The next resistance level is around $2,2K.
Analysis and Outlook
Analyst Ninja believes that the price range of $1,600 - $1,900 is attractive for investors. He anticipates a high target level of $2,500.
Ethereum continues to struggle to regain prices above the psychological level of $2000. Technical analysis and market trends suggest the need for close monitoring of future movements.
