Is Ethereum Undervalued? Investors Hold Firm While Price Targets Rise

Name	Symbol	Market	Market Cap ($)	Algorithm
Ethereum	ETHUSD	Crypto	377,600,847,725	Not Mineable

Name

Symbol

Market

Market Cap ($)

Algorithm

Ethereum

ETHUSD

Crypto

377,600,847,725

Not Mineable

	Price Change	Price Change %	Current Price	Bid Price	Offer
	63.37	2.06%	3,135.72	3,135.72	3,135.73

Price Change

Price Change %

Current Price

Bid Price

Offer

63.37

2.06%

3,135.72

3,135.73

High Price	Low Price	Open Price	Prev. Close	52 Week Range
3,149.37	3,034.15	3,071.43	3,072.35	1,930.86 - 4,093.88

High Price

Low Price

Open Price

Prev. Close

52 Week Range

3,149.37

3,034.15

3,071.43

3,072.35

1,930.86 - 4,093.88

Exchange	Last Trade	Size	Trade Price	Currency
BSTP	10:47:20	0.075664	3,135.70	USD

Exchange

Last Trade

Size

Trade Price

Currency

BSTP

10:47:20

0.075664

3,135.70

USD

Price x Volume	Volume	Base Symbol	Related Pairs
226,409,421.18	72,835.88	ETH	ETHEUR	ETHGBP	ETHBTC

Price x Volume

Volume

Base Symbol

Related Pairs

226,409,421.18

72,835.88

Is Ethereum Undervalued? Investors Hold Firm While Price Targets Rise

20/11/2024 9:00am

NEWSBTC

Ethereum has experienced a noticeable surge in its price recently, trading above the psychological $3,000 price mark, which has reignited interest in the crypto market. According to on-chain analysis, retail investors appear to be adopting a “hold” strategy, resisting the urge to sell despite the increase in ETH’s value. Market analysts view This holding behavior as significant, especially considering the broader market sentiment influenced by the so-called “Trump Trade,” which has contributed to easing risks and enhancing market conditions. Related Reading: Ethereum Price Readies for a Fresh Climb: Will Momentum Build? Limited Ethereum Deposits To Exchanges According to the onatt, the CryptoQuant analyst behind the analysis, this trend of holding ETH without significant profit-taking suggests that many investors still perceive the cryptocurrency as “undervalued,” even at its elevated levels. Another factor onatt mentioned supporting this observation is the limited inflow of ETH to major exchange deposit addresses such as Binance and OKX, indicating that traders are not moving their assets to sell. Generally, large volumes of ETH flow into exchanges typically signal impending selling pressure. However, this has not been the case, reflecting a cautious but optimistic outlook among retail market participants. Key Metric Highlighting Investor Sentiment Another major metric the CryptoQuant analyst highlighted reinforcing this “hold” sentiment is the Spent Output Profit Ratio (SOPR), which tracks the profitability of spent coins. onatt reveals that this metric remains close to 1, indicating that most Ethereum transactions are happening near breakeven levels. This data indicates a lack of significant profit realization among ETH holders, highlighting a strong “buy and hold” sentiment. According to the analyst, when paired with low exchange inflows, this metric also suggests that investors are maintaining confidence in Ethereum’s long-term growth potential. Furthermore, onatt’s analysis suggests that as long as ETH maintains levels above $2,800, it could pave the way for a swift move toward the $4,000 range. So far, Ethereum is currently still trading above just above $3,000. While the asset’s price increase is nowhere near that of BTC, it has managed to maintain stability above the crucial psychological price level. Related Reading: Ethereum Price Confronts Barriers to a New Surge—Can Bulls Prevail? At the time of writing, ETH has surged by 0.2% in the past day with a current trading price of $3,100—a price mark that brings Ethereum a 36.4% decrease away from its all-time high (ATH) of $4,878 registered in 2021. Analysts have suggested that the current market price of ETH is a notable buying opportunity for the asset. A crypto enthusiast known as venturefounder has particualry predicted a “conservative” $10k-$13k price target for ETH. $ETH: road to $13k This could be a transformative cycle for #Ethereum. $10k-$13k is conservative. pic.twitter.com/q3Er9EG9gS — venturefounder (@venturefounder) November 19, 2024 Featured image created with DALL-E, Chart from TradingView

	Real-time Prices	Level 2
London Stock Exchange
Chi-X Europe
BATS Europe
Aquis Exchange
New York Stock Exchange
NASDAQ
American Stock Exchange
Dow Jones Indices
Precious Metal

	Real-time Prices	Level 2
London Stock Exchange
Chi-X Europe
BATS Europe
Aquis Exchange
New York Stock Exchange
NASDAQ
American Stock Exchange
Dow Jones Indices
Precious Metal

Market Data

News

Trading Tools

Markets

Discover

Hot Features

Follow Feed

Options Flow

Monitor

ETHUSD Ethereum