Ethereum Trades Near Bear Market Lows with Strong Fundamentals

Ethereum’s price has dipped more than 21% after breaking key resistance levels and trading below $2,000. Despite this, on-chain fundamentals remain strong, indicating potential undervaluation. Analysts suggest current market conditions may provide a strategic buying opportunity for long-term holders despite fears of manipulation and macroeconomic uncertainties.

Ethereum continues to trade below significant resistance levels, having faced weeks of strong selling pressure, particularly after dropping below the $2,000 threshold, marking a decline of over 21%. This situation has raised concerns among investors, despite Ethereum’s on-chain fundamentals indicating strength, including its dominance in stablecoin transactions and Total Value Locked (TVL) across DeFi protocols.