Ethereum’s price has experienced a significant drop of nearly 20% in November, falling back to around $3,000 and testing the psychological support level for the first time since July. While this decline puts Ethereum in a clear downtrend on the daily chart, recent signals suggest potential opportunities for investors. The Mayer Multiple (MM), a key indicator of long-term market sentiment, has dropped below 1, indicating a historically strong accumulation zone. This suggests that ETH is trading at a discount to its long-term trend and aligns with past bottoming phases. However, short-term volatility remains as clusters of liquidity remain near the $2,900-$3,000 range, highlighting potential for further price swings before sustained recovery.