Ethereum has been struggling to regain momentum and sustain a recovery, leading investors to sell their holdings. The increased selling pressure reflects a lack of confidence in Ethereum's ability to recover. However, the Network Value to Transaction (NVT) signal suggests that Ethereum may be undervalued, potentially leading to a medium-to-long-term rally. Currently, Ethereum's price is holding above a support level but is likely to continue consolidating below a resistance level. Breaching this resistance level could restore investor confidence and invalidate the bearish outlook, but sustained buying pressure and favorable market conditions are needed for this to happen.



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