Ethereum Price Analysis: Rebound Potential Amidst Downtrend

Ethereum price has dipped below the $1,600 mark. On-chain and technical signals point to a potential accumulation phase as the market approaches a key turning point. Analyzing abramchart’s data reveals that Ethereum is trading near its realized price level, historically associated with significant rebounds. The realized price currently sits around $1,585, acting as a reliable indicator of deep value accumulation. Notably, every major bull run in Ethereum’s history has started when the price fell to or below this level.