Ethereum Traders Eye Potential Bottom as Price Hits 17% Undervaluation

Ethereum's recent performance has caught the attention of investors as they evaluate whether the altcoin is finally approaching a lasting bottom against Bitcoin. According to CryptoQuant, Ethereum trades around 17% below its realized price, estimated near $2,300.

The realized price reflects the average acquisition cost of coins across the blockchain and has historically served as an important indicator of market valuation. When ETH trades below this level, previous cycles have often entered accumulation phases before broader recoveries emerged.

CryptoQuant's report highlights improving relative strength versus Bitcoin, with Ethereum's Market Value to Realized Value (MVRV) ratio cooling significantly from previous overheated conditions.