Ethereum has fallen back to levels associated with previous bear market lows and is now trading within what analysts describe as a long term demand zone. Market commentator Merlijn The Trader noted that this price range has historically been an area of accumulation rather than distribution over the past five years.
Ether has returned to price levels last seen in April 2025, when it briefly dropped below $1,500. It is also revisiting the broader range observed between July 2022 and November 2023, a period widely viewed as a deep bear market phase marked by steady accumulation. Analysts caution that Ethereum could remain within this range for an extended period, though some believe momentum is gradually building for a potential breakout.
Investor StockTrader Max emphasized that Ethereum should no longer be viewed as a quick path to rapid wealth. Instead, he described it as a long term portfolio asset better suited to investors with a multi year horizon rather than short term expectations.
Another analyst, Sykodelic, pointed to a hidden bullish divergence on the weekly chart. This pattern occurs when the relative strength index forms a lower low while price records a higher low, suggesting underlying strength in momentum. The analyst noted that the last time this setup appeared, Ethereum went on to rally by 100 percent.
Fundstrat’s Tom Lee acknowledged that while broader conditions in the crypto market appear supportive, recent price action has been weak. His firm continues to accumulate and stake Ethereum, adding more than 51,000 ETH over the past week as part of its treasury strategy.
At the time of writing, Ether is trading near $1,830 after failing to hold above $1,900 during early Tuesday trading in Asia. The asset remains close to its February 6 low and has yet to show clear signs of a sustained upward move despite constructive long term fundamentals.
