Ether Lee’s indigenous token token, ether (ETH), has been signing of optimistic exhaustion after the steep 65% decrease in the last three months. There are investors who are wondering if the market floor is approaching the speed and excessive conditions of the trend of various ETH Price MetRics.
ETH Fractals fall to $ 1,000
Ether’s current price behavior reflects the familiar fractal patterns in 2018 and 2022. In both cases, ETH Price has seen a happiness rally that ends with a sharp rally and a long -term bear market.
Each of these cycles shared the main characteristics:
ETH/USD weekly price chart. Source: TradingView
Since the price peak (the cycle top on the chart above), the ETH has repeatedly repeated and often dropped through the major Fibonacci levels.
The cycle floor is usually formed by stabilizing the price near the historical Fibonacci area when the RSI falls to the over 30 (less than 30).
The current setting is similar to this structure.
In December 2024, Ether formed the highest high of $ 4,095, and RSI was the lower the highest, interfering with the weakness of the weaknesses at the previous tower. This difference, like the patterns of 2018 and 2022, showed a sharp start of correction.
The current price of ETH is about $ 1,550 after 1.0 Fibonacci. Weekly RSI, on the other hand, still proposes a space for further reduction until at least 30 reading is falling less than 30 than 30.
ETH/USD weekly RSI performance chart. Source: TradingView
Fractal may be in the last leg of Etherrium, and the following potential price targets are 0.618-0.786 Fibonacci and return to the area within the price range of $ 990- $ 1,240.
source: Mike Mac Glon
relevant: Three reasons for Ether Lee Rium to turn the corner: kain warwick, X Hall of Flame
Ether Leeum NUPL belongs to another bottom indicator ‘Capitulation’.
Ethereum’s innocent profit/loss (NUPL) entered the “Capitulation” zone, a whole chain stage where most investors maintain ETH. In the previous cycle, similar movements to this area were close to the main market floor.
Ether Leeum NUPL vs. price chart. Source: Glass Node
In March 2020, NUPL changed negatively just before ETH rebounded due to the Covid-19 market conflict. In June 2022, a similar pattern appeared when Metric fell to the aviation area just before the establishment of a $ 880 bear market.
Since the ETH enters this area again, the current setting uses a major Fibonacci support level of nearly $ 1,000 to loosen the previous floor stage.
This article does not include investment advice or recommendation. All investment and trading measures include risks, and the reader must do his own research when making a decision.