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Ethereum’s Recent Bearish Trend

In recent months, Ethereum has faced significant downward pressure, with its value nearly halved in the first quarter of 2025. This decline aligns with broader market trends among altcoins, exacerbated by the announcement of fresh trade tariffs by the United States government. As the tariffs were lifted, Ethereum’s price struggled to gain upward momentum, failing to maintain levels above $1,600. This highlights the ongoing challenges the cryptocurrency has encountered.

Is Ethereum’s Price Reaching a Turning Point?

Renowned crypto analyst, known as Cryptollica, recently shared intriguing on-chain data on the X platform indicating that Ethereum might be approaching a critical juncture for a bullish reversal. This insight is derived from the Mayer Multiple indicator, which evaluates the relationship between an asset’s current price and its 200-day moving average (MA).

The 200-day MA serves as a benchmark for an asset’s long-term average price, while the Mayer Multiple assesses how far the current price deviates from this average. A Mayer Multiple above 2.4 suggests an overheated market and potential price peak, whereas a value below 0.8 indicates that the asset might be oversold, possibly reaching a price bottom.

According to a chart by Glassnode shared by Cryptollica, Ethereum’s Mayer Multiple recently dipped under the 0.8 threshold. This suggests a potential bottoming out of ETH’s price, hinting at a bullish reversal. Notably, the last occurrence of this indicator reaching such lows was in 2022, followed by Ethereum’s price surge above $4,000. Should history repeat itself, Ethereum could see a significant rally, potentially exceeding 150% from its current valuation.

Current Ethereum Price Overview

As of now, Ethereum is trading around $1,550, marking a modest 1% increase over the past 24 hours. Despite this slight upward movement, the altcoin’s performance over the past week has remained largely unchanged. CoinGecko data indicates that Ethereum’s price has decreased by approximately 15% in the last seven days, reflecting ongoing market volatility and sentiment challenges.

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