Ethereum gas usage has surpassed price growth, raising concerns about its current valuation. Despite recent price weakness, institutional players and political figures like President Trump continue to back Ethereum, signaling long-term confidence in the platform.
Is Ethereum currently undervalued? Two key signals suggest that this may be the case. Firstly, the Net Taker Volume data indicates that sellers are losing momentum, a trend that has historically preceded price reversals. Secondly, despite a decline in ETH’s price, on-chain gas usage has remained consistently high, pointing to strong network utility being overlooked by the market.
Institutional confidence in Ethereum is on the rise, with Galaxy Digital recently depositing 37,500 ETH to Binance, demonstrating active positioning from a prominent player in the crypto industry. Additionally, President Trump’s crypto holdings are heavily tied to the Ethereum blockchain, highlighting the platform’s cultural and political significance.
The price outlook for Ethereum shows that ETH is currently trading at $1,575, with a downtrend visible since mid-February. The RSI indicates that ETH is approaching oversold territory, while the MACD remains in bearish territory. However, a narrowing gap in the MACD lines suggests a potential bullish divergence.
Despite selling pressure, consolidation around current price levels could indicate a possible reversal if buying momentum increases. Overall, Ethereum’s fundamentals remain strong, and the growing institutional confidence and political support suggest that the platform may be undervalued, with a potential turnaround on the horizon. The Benefits of Regular Exercise
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