Three reasons why Ether traders expect ETH to hold above $1.8K

Ether’s (ETH) caller sell-off was stopped astatine $1,800, arsenic bulls aggressively defended the level. Ether’s rebound supra $2,100, on with on-chain and method data, suggests that traders volition clasp the terms supra $2,000 for the short-term.

Key takeaways:

• Ether’s profitability metrics driblet to levels that person historically marked section bottoms.

• The MVRV Z-score and pricing bands suggest ETH terms driblet to $1,800 was the bottom.

• ETH terms bounced disconnected a multi-year trendline that has marked erstwhile macro lows.

Ether traders recognize losses

Onchain information shows that Ether’s Spent Output Profit Ratio (SOPR) is astatine 0.96, suggesting ETH investors are inactive selling astatine a loss. 

This metric dropped arsenic debased arsenic 0.92 connected Feb. 6, implying that Ether’s terms driblet to $1,800 was driven by traders realizing losses amid panic and utmost fear.

Related: Ethereum stablecoin proviso hits $180B all-time high: Token Terminal

SOPR measures the nett oregon nonaccomplishment of spent ETH outputs by comparing the worth of coins erstwhile they were past moved to their worth erstwhile they are spent again. 

A worth beneath 1 mightiness suggest capitulation oregon a marketplace bottom, perchance signaling a bully clip to buy.

Ether SOPR. Source: Glassnode

Historically, this script has often preceded terms recoveries. When SOPR fell to 0.86 pursuing Ether’s driblet to $1,500 successful April, it was followed by a 246% terms betterment to its existent all-time precocious of $4,950. 

Similar scenarios successful 2022 and 2023 were followed by 130% and $155% ETH terms rallies, respectively.

As such, immoderate investors saw the driblet to $3,000 arsenic an accidental to buy.

MVRV Z-Score suggests Ether bottomed astatine $1,800

Ether’s MVRV Z-Score, a cardinal onchain metric utilized to place marketplace tops and bottoms, has dropped into the humanities accumulation portion (the greenish enactment successful the illustration below), strengthening the statement that ETH whitethorn person recovered a bottom.

Ethereum: MVRV Z-score. Source: Capriole Investments

The past clip Ether’s MVRV Z-score fell to the existent levels was successful April 2025, aft a 66% terms drawdown. This coincided with a macro marketplace bottommost astatine $1,400 and preceded a multi-month rally, with the ETH/USD brace rising 258% to its existent all-time precocious of $4,950. 

Meanwhile, the 0.80 MVRV pricing band, which has historically marked rhythm bottoms, is presently astatine $1,880. 

ETH: MVRV pricing bands. Source: Glassnode

This indicates that, from an onchain perspective, Ether is undervalued and whitethorn proceed the ongoing recovery, perchance rising toward dense liquidity clusters betwixt $2,400 and $2,600 successful the abbreviated term.

ETH terms sits connected beardown enactment supra $1,800

Data from TradingView shows that ETH terms has successfully held supra a cardinal enactment portion implicit the past 2 months, arsenic illustrated successful the illustration below.

This is the country astir $1,800, wherever investors acquired much than 1.35 cardinal ETH, according to Glassnode’s outgo ground organisation heatmap.

ETH outgo ground organisation heatmap. Source: Glassnode

This level aligns with a multi-year trendline that has historically marked the bottommost for ETH/USD, arsenic seen successful 2022 and successful April 2025.

ETH/USD play chart. Source: Cointelegraph/TradingView

Ether’s rebound from this level successful aboriginal February suggests the trendline inactive holds arsenic support, paving the mode for a sustained betterment toward $4,800.

As Cointelegraph reported, a driblet beneath $2,000, wherever the 20-day EMA and the 50-day SMA converge, could spot the price drop toward the adjacent large enactment astatine $1,750.