Pseudonymous trader NoName says Ethereum has just entered the price zone where its bear market has historically bottomed, pointing to four consecutive lower highs ($4,957, $3,400, $2,460, then $1,950) as proof the downtrend has run its course. The world’s second-largest cryptocurrency was trading below $1,900, up 12% over the past month but still 62% below its all-time high of $4,946. The bottom zone is expected between $1,300 and $1,900. The analyst targets $7,000 long-term while acknowledging the path higher will be rough. Several signals support a nascent bullish sentiment, including a bullish MVRV ratio crossover, a funding rate at a six-month high on Binance, massive whale purchases totaling tens of millions of dollars, and $408 million in inflows into spot Ethereum ETFs this month.
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