According to CryptoPotato, despite the 2022 market downturn and Ether's downside pressure, data suggests that the asset remains viable. Ether's on-chain transaction and trading volumes declined following their peak in early November 2021, indicating a lack of enthusiasm among traders. However, Santiment's analysis shows considerable psychological support around the $1,500 mark, suggesting that if Ether reaches this threshold, there could be a significant surge in volume. The crypto analytic platform also noted a 4-month-long dump in supply from addresses holding between 10 and 10,000 ETH, with investors accumulating significantly before switching to profit-taking mode as Ether reached a 1-year high of $2,120. Santiment stated that prices can still rise as investors take profit and that the holdings are far from a perfect correlation. The platform added that there are reasons to be optimistic about investing in ETH, as more projects continue to use the blockchain, further solidifying its place in the crypto market. Retail investors, rather than whales and sharks, have been accumulating Ether at current levels, reaching a 4-week high, according to Glassnode's alert. This observation indicates that retail traders are regaining confidence in the market, a sentiment supported by the increasing outflow of Ether tokens from crypto exchanges. In fact, ETH exchange balances reached a 5-year low of just over 14.8 million ETH.