Ethereum Price Could Rise Sharply Soon

The Ethereum price, currently trading around $2,500, may be on the cusp of a recovery. The altcoin is consolidating below $2,681 in search of a breakout. The recent selling pressure that has led to significant losses appears to be easing. This selling phase over the past three weeks appears to have been driven by panic, but the tide is turning, with a slight price recovery and renewed optimism.

The market has shifted in the last ten days, with the Ethereum price showing signs of recovery. The Market Value to Realized Value (MVRV) ratio confirms this positive trend. If Ethereum holders start accumulating funds, the price recovery could gain momentum, signaling a potential uptrend.