Ethereum’s native token, Ether (ETH), witnessed its lowest weekly close since November 2023, highlighting just how much the top altcoin has struggled over the past few months.
Ethereum 1-day chart. Source: Cointelegraph/TradingView
In the past 83 days, it declined by 51%, translating to an average daily loss of approximately 0.61%. If the losses are compounded daily, the rate increases to about 0.84%.
Ethereum exchange outflows hit 27-month high
According to IntoTheBlock, a crypto analytics platform, Ethereum witnessed significant outflows worth $1.8 billion over the past week. It was the highest weekly outflow since December 2022, and in an X post, the platform added,
“Despite ongoing pessimism around Ether prices, this trend suggests many holders see current levels as a strategic buying opportunity.”
Ethereum net flows on aggregated exchanges. Source: X.com
Fellow onchain data provider CryptoQuant paints a similar picture. The 30-day simple-moving average of Ethereum netflows dropped to roughly 30,000 ETH last week, which was last recorded toward the end of December 2022.
Exchange exchange total netflows. Source: CryptoQuant
Likewise, Ethereum’s MVRV (market value to realized value) ratio dropped to 0.8 for the first time since Oct. 18, 2023, as observed in the chart.
Related: Crypto ETPs see 4th straight week of outflows, totaling $876M — CoinShares
The MVRV ratio is a metric that calculates ETH’s market price to the average price at which all ETH in circulation was last moved.
Ethereum MVRV ratio. Source: CryptoQuant
An MVRV ratio below 1 indicates undervaluation, signaling a potential buying opportunity. For context, when the MVRV ratio dropped to 0.8 on Oct. 18, 2023, Ether registered a local bottom near $1,600, followed by a bullish reversal and the beginning of the 2024 bull run.
Is the Ethereum bottom in?
Ether price is currently consolidating near its psychological level at $2,000, following a steady correction since the beginning of 2025.
With respect to this intraday price action, Mikybull, a technical analyst, points out that Ethereum is “showing a bullish reversal” with a diamond price pattern.
Ethereum 4-hour analysis by Mikybull. Source: X.com
A diamond pattern after a downtrend suggests a potential bullish reversal. Based on this pattern’s measured target, Ether could rebound about 20% to $2,600 from its current price.
Ethereum weekly chart. Source: Cointelegraph/TradingView
On the flip side, Ether’s weekly chart closed below the 200-day EMA level for the first time since October 2023. Since 2020, ETH price has remained under this indicator for less than 15% of the time. Previously, Ether rebounded in the following week every time it dropped below this trendline in 2023.
Related: Bitcoin ‘Monte Carlo’ model forecasts $713K peak in 6 months
However, a prolonged period under this line may extend ETH’s bottom price target. Thus, it will be critical for Ethereum to bounce back above this EMA trendline to confirm the bottom over the next few days or weeks.
This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.
