Current bearish indicators suggest there might be room for further decline before a rebound.held on exchanges has reached its lowest point in eight years. With the imminent launch of its spot ETFs, we could see a huge supply shock, and it might lead to a dramatic increase in Ethereum’s price.
This means the price could decline a little more before reaching oversold conditions, which often come right before a price rebound. With 51% of Ethereum held by whales, there’s a huge concentration of Ethereum in the hands of a relatively small number of wallets.There has been a large volume of transactions exceeding $100K, totaling $32.81 billion over the last seven days, highlighting massive institutional or large-scale investor activity. In other words, investors of all kinds are currently bullish on Ether.
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