A pseudonymous trader argues Ethereum has entered the price band where its bear market has historically bottomed, pointing to four straight lower highs. The same trader is buying the dip toward a long-term $7,000 target, even as others warn of one more drop first.
Ethereum has moved into the zone where its downtrend has historically bottomed, according to pseudonymous trader NoName, who reads four straight lower highs as proof the decline has run its course. NoName is buying through the dip with a long-term target of $7,000, arguing the crowd psychology that made ETH a favorite at $4,900 now weighs on it below $2,000.
Mapping the bottom zone
The trader charted the fall through four descending peaks — $4,957, $3,400, $2,460, then $1,950 — a sequence that has pushed price into the $1,300 to $1,900 band treated as the floor. His case leans on sentiment over technicals: the same asset dismissed today drew eager buyers at higher prices, though the network itself has not changed. NoName framed it as psychology rather than fundamentals: "That's not logic, that's psychology, and psychology marks bottoms," NoName wrote.
Other readings pointed the same way. Chartist Ali Martinez flagged a bullish crossover in ETH's MVRV ratio against its 160-day moving average, a setup seen before several past recoveries. Arab Chain reported that Ethereum's 30-day funding rate average on Binance climbed roughly 0.00339, its highest in six months, with the token near $1,920 at the time.
Where the price sits
ETH was changing hands just below $1,900, up close to 12% over the past month yet still 62% below its $4,946 all-time high from last August. It had slipped from a seven-week high near $1,950 and needs to reclaim $2,000 to extend any push.
Large holders have kept buying. Lookonchain tracked a wallet acquiring 27,000 ETH worth $52 million through Galaxy Digital's OTC desk. Spot Ethereum ETFs have drawn over $408 million this month.
Holders have kept staking their ETH despite lower returns. That locked share reached a record 41.04 million ETH, about 34% of supply, even as rewards fell.
Not everyone agrees
CryptoQuant struck a more cautious note, noting ETH traded roughly 17% below its realized price while only two of five bottom-signal metrics had reached extremes. The real dispute is whether the bear market has genuinely ended. Analyst Nonzee expects one more rally toward $2,000 before a slide toward $900 to $1,300, calling that bounce a bull trap — yet still arrives at the same $7,000 long-term target.
Sources: CryptoPotato, Live Bitcoin News
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