Is Ethereum Gaining Momentum?

Ethereum, currently trading around $2,500, might be on the verge of a rebound. The altcoin has been consolidating below $2,681, searching for a breakout. Recent selling pressure, causing substantial losses, appears to be easing. This selling phase over the last three weeks seems to have been driven by panic, but the situation is changing, with a slight price recovery and renewed optimism.

In the past ten days, the market has seen a shift, with Ethereum’s price showing signs of recovery. The Market Value to Realized Value (MVRV) ratio supports this positive trend. Should Ethereum holders begin accumulating, the price recovery could gain momentum, signaling a potential uptrend.

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