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Ethereum (ETH) Long-term holders have officially entered the territory of “capitulation”, the metric of the LTH-NUPL plunging in red for the first time in months. This change reflects growing losses among experienced holders and often signals the final phase of a lower cycle.
At the time of the press, Ethereum was negotiated at $ 1,591.63, showing an increase of 7.32% in the last 24 hours.
In other words, even with prolonged drop pressure, the action of short -term prices now leaves a possible change of momentum.
The action of Ethereum prices remains confined to a abrupt decreasing channel, characterized by highly lower ups and hollows since November 2024.
After having rebounded strongly from the $ 1,460 support area, the price is now faced with resistance close to $ 1,815, a level where bears could try to assert control.
That said, if the Bulls manage to recover the level of $ 1,815, this could move the market structure upwards and prepare the ground for a challenge for the resistance of the upper canal.
However, until it occurs, the downward pressure will persist, with potential retains of key support levels if the momentum fades.
Source: tradingView
Meanwhile, chain activity tells a different story.
Daily active addresses increased to 573,000 and the number of transactions reached 1.42 million on April 9, marking a significant peak in user engagement.
This increased participation – despite the low price – arouses an increase in interest in the Ethereum ecosystem at reduced prices.
In addition, the long / short MVRV difference fell to -22.26%, a level often associated with maximum pain and ideal accumulation during historical funds.
Source: Santiment
Interestingly, whale behavior has intensified.
More than 530,000 ETH were moved to the main portfolios last week, generally pointing to a strategic accumulation or rebalancing.
Even more revealing is a sleeping ethereum og that acquired ETH in 2016 and discharged 10,702 ETH worth $ 16.86 million at only $ 1,576.
Interesting, tIts whale has still only sold during periods of significant market corrections, even avoiding sales when ETH exceeded $ 4,000.
These actions may indicate outings or attempts at psychological manipulation designed to cause detail, preparing the way for a resumption of the possible market.
The capitulation of long -term Ethereum support, extreme MVRV readings and the increase in whale activity all point to a conventional accumulation configuration. The use of the network increase adds additional confirmation that the interest remains strong below the surface.
Consequently, despite short -term volatility, all signals indicate that Ethereum is negotiated in a high probability inversion area.
Intelligent investors can consider this as one of the best entry points at risk before the next leg.
post url: https://altcoin.observer/ethereum-why-could-this-be-the-right-time-to-buy-eth/