Overview
- Ethereum has reclaimed and held roughly $1,800 in recent days, completing a rebound of about 20% from its 2026 low and creating a potential double-bottom pattern with a neckline near $1,815.
- On-chain metrics show MVRV has dropped below 0.8, a historical signal of heavy accumulation that coincided with prior major bottoms but does not guarantee a trend reversal.
- Institutional flows have shifted modestly positive with spot Ethereum ETFs reporting roughly $84 million of inflows and reports that BitMine has been buying substantial ETH, actions that reduced immediate sell pressure on exchanges.
- Large wallets have added about 11,306 ETH (roughly $20.6 million) and exchange netflows have been negative for multiple days, yet overall trading volume remains relatively thin and futures open-interest readings are mixed across data providers.
- Traders say the rally requires clear proof of strength in the form of sustained daily closes above the $1,815–$1,820 band and holding support between $1,770 and $1,700, with the June lows near $1,505 as the structural floor.