The Decline Period is Ending in Ethereum! CryptoQuant Analyst Listed Four Reasons for ETH Rise!

Bitcoin and altcoins have experienced a decline in recent days, with Ethereum (ETH) suffering one of the biggest losses.

Institutions seeing this decline in ETH as a buying opportunity are increasing their purchases, while CryptoQuant analyst ETH stated that it is extremely undervalued and said that a possible price recovery is imminent.

An analyst sharing four signals that Ethereum could experience a potential recovery listed them as follows:

The current unrealized price of ETH is $2,200, which is below the market price of $2,600. This indicates that Ethereum is being undervalued.

2.The amount of ETH held by long-term investors is increasing, which helps the market to gain stability.

3. Selling pressure decreased in the futures market, indicating an increase in buying interest.

4. Major institutional investors such as BlackRock and Cumberland are increasing their ETH assets during this decline.

The analyst, who stated that these four situations are bullish signals for ETH, said that when these factors come together, ETH may experience sideways movements due to macroeconomic conditions, but it has a strong potential to show an upward trend in the near future.

Ethereum continues to trade at $2,630 as of writing.