Ethereum: Investors Accumulate as ETH Approaches 17-Month Low, Anticipating Rebound

In the ever-volatile world of cryptocurrencies, Ethereum (ETH) has been grabbing headlines as its price nears a 17-month low. Despite the bearish sentiment in the market, investors are seeing this as an opportunity to capitalize on the potential rebound. Here’s a closer look at the current situation and what it means for the future of Ethereum.

Ethereum Investors Capitalize as ETH Price Nears 17-Month Low

As Ethereum approaches significant price levels, many market participants anticipate a rebound. The Ethereum supply on exchanges has dropped to a six-month low, suggesting that long-term holders are accumulating ETH at these low prices. This decrease in exchange supply is viewed as a bullish sign, indicating strong conviction in Ethereum’s long-term value and less short-term trading activity. Investors are waiting for the price to rebound before making any moves.

Ethereum Supply On Exchanges

The Ethereum supply on exchanges has reached a six-month low, suggesting that investors are holding their assets off the market. This trend indicates that long-term holders are accumulating more ETH at current low prices, anticipating future appreciation. The decrease in exchange balances also points to less short-term trading activity, as investors wait for the price to rebound.

Ethereum (ETH) Is a ‘Gift’ at Current Prices: Popular Trader Increases Exposure

One well-known trader sees Ethereum’s dip to around $1,800 as a buying opportunity, echoing Warren Buffett’s advice to be greedy when others are fearful. Despite a severe downturn in recent months with a price drop of over 20% on a 30-day scale, some industry participants view the current conditions as a perfect buying opportunity. The trader, Doctor Profit, increased his exposure to Ethereum when it was trading at $1,800 and called it “a gift for the long term.” However, Ethereum still faces strong headwinds that might result in a further price collapse in the NEAR future.

Ethereum Price Analysis: Will ETH Drop Further to $1.5K?

Ethereum remains under pressure as the broader market sentiment struggles to shift bullish. The price continues to hover around key demand zones, with little sign of immediate strength from bulls, while derivatives and on-chain activity show signs of caution. Technical analysis indicates that ETH has failed to recover above the previous support turned resistance near $2,000, and the daily structure remains bearish. The 200-day moving average is positioned above $2,800, underscoring the broader bearish bias, while RSI lingers in oversold territory, suggesting that downside momentum is still present but potentially weakening. The next strong support lies near the $1,550 region.