Ethereum Is Cheap Now, But The Real Bottom Is Still Missing

Ethereum is currently trading at a discount, but onchain data shows the market has not reached its ultimate low point yet. ETH is changing hands below its realized price of $2,300, which usually indicates holder losses that eventually exhaust sellers. Even so, analysts point out that only two out of five historical bottoming signals have triggered so far, meaning the market is still waiting for a real wave of capitulation.

While direct selling pressure is starting to ease, other major metrics need to align before a true bottom is locked in. The ETH to Bitcoin valuation ratio and exchange inflow figures have not dropped deep enough into historical accumulation zones yet. At the same time, institutional interest remains strong as companies continue to back Ethereum for tokenization projects and secure financial rails.

Price action shows ETH pulled back to $1,860 after touching a seven week high of $1,950 earlier in the week. The asset is down slightly on the day, though it still holds a solid gain over the past month. Traders are now watching to see if the coin can build enough momentum to break back past the key psychological $2,000 resistance level.