Despite recent selling pressure and an influx of ETH onto exchanges, Ethereum has shown resilience and maintained its recovery momentum. The cryptocurrency's exchange net position change indicates that investors took advantage of the price recovery to secure short-term profits. However, Ethereum's price has not experienced a sharp decline, suggesting investors are not anticipating a prolonged downtrend. The MVRV Score indicates that Ethereum is undervalued compared to its historical market cycles, indicating room for sustained recovery without immediate price reversal. If market conditions remain supportive, Ethereum could challenge key resistance levels in the coming weeks and potentially reach $3,530. However, continued selling pressure could hinder its progress, resulting in consolidation between $3,303 and $3,131. A drop below $3,131 could invalidate the bullish outlook and delay further price recovery.



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