Ethereum price is “undervalued” against bullish indicators, says Fidelity

Despite the fall seen in the price of Ethereum, The analysts of Fidelity They highlight possible bullish indicators thinking in the medium/long term, comparing with other possible indications of mass adoption that would support the thesis of a possible increase.

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• Price of Ethereum 45% fell during the first quarter of 2025, erasing profits after elections in the US.
• Key indicators such as MVRV and NUPL They point to historical areas of opportunity.
• Fidelity It also highlights indications of record activity in scalability solutions, highlighting growing adoption.

Ethereum, The second most important cryptocurrency in the market faces a moment of uncertainty. However, new report data “Signals Report” of Fidelity Digital Assets suggest that, Despite its low performance in the last days, the asset could be in an area of ​​opportunity for investors with long -term vision.

This is reviewed by a report published by Cointelegraph, which details that, according to analysts of Fidelity, During the first quarter of 2025, the price of Ethereum (eth) 45%fell, marking a significant setback since its Pico de USD $ 3,579 in January, reached shortly after the presidential elections in the United States. The collapse erased almost all the profits obtained in that period, leading a lot to talk about a doping cycle in consolidation.

Technical indicators reinforce mixed panorama

One of the most striking data is the crossing of death (Death Cross) recorded in March, when the simple mobile average (SMA) 50 days fell 21% below Sma 200 days. This pattern is usually interpreted as a bearish signal in technical analysis.

However, Fidelity He highlighted several indicators that could suggest a future reversal. He MVRV Z-SCORE, comparing the market value with the value carried out, it was reduced to -0.18 on March 9, entering the area historically considered as “Undervalued”. According to the report, these levels have marked market floors in previous cycles.

In addition, the profit/loss ratio not made (NUPL) fell to 0, indicating a phase of “capitulation”that is, a point of balance between profits and losses not made. This phenomenon is usually seen as a sign that the weakest investors have abandoned the market, allowing long -term holders to stabilize prices.

Price made vs. market price

Fidelity He also stressed that the price made of Eth —That reflects the average cost paid by current investors – is at USD $ 2,020, approximately 10% above the market price. This implies that most current holders face unrealized losses.

Despite the general bearish tone, the moderate difference of only 3% in the price compared to previous quarters, contrasts with the 45% drop in the market price. This suggests that the sale pressure came from short -term investors, while the long -term holders maintained their positions.

However, the report warned that similar situations in the past did not guarantee immediate recovery. In 2022, Ethereum It quoted below its price made for weeks before showing sustained recovery signals.

Another fact cited was the relationship between market capitalization of Ethereum and Bitcoin, located at 0.13. This ratio has been descending for more than 30 months and is at comparable levels in mid -2020.

Boom in the activity of the networks Capa 2

Parallel to this technical context, the activity within the ecosystem Ethereum Show very different signals. Specialized portal data Growthepie.xyz They revealed that the number of unique active addresses in layer 2 solutions (Layer 2) reached a new historical maximum: 13.6 million active weekly, an increase of 74% in just seven days.

This growth highlights the scalability and adoption of the ecosystem, even during stages of correction in the market. The new protocol Unichain, developed by Unisswap, He led this rebound with more than 5.82 million weekly users, even surpassing networks such as Base and Arbitrum.

As a result, the dominance of Ethereum In layer 2 solutions, 58.74% rose in the last week, according to the analysis of the same source.

Technical Reversion Signs

At a technical level, some independent analysts begin to see reversal signs. The trader known as CRG commented to Cointelegraph that the price of Eth managed to position himself again above the cloud Ichimoku in 12 -hour graphics, something that did not happen since December 2024. This indicator, widely used in technical analysis, is usually interpreted as a bullish impulse signal if the cloud becomes green and the price is maintained above.

These signals do not guarantee an immediate change of trend, but the foundations for a new recovery cycle could be laying. The growing adoption and strengthening of layer 2 infrastructure could serve as shock absorbers to new price corrections.

Written article with the help of an AI content editor, edited by Angel Di Matteo / Diariobitcoin

Original image of Diariobitcoin, Created with artificial intelligence, for free use, licensed under public domain.

WARNING: Diariobitcoin offers informative and educational content on various topics, including cryptocurrencies, AI, technology and regulations. We do not provide financial advice. Cryptactive investments are high risk and may not be adequate for all. Investigate, consult an expert and verify the applicable legislation before investing. I could lose all its capital.

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