ETH has yet to record a new ATH since November 2021. Additionally, during this cycle, the price stalled around $4,000 and subsequently fell by 66%.
Is ETH undervalued?
📊 The price is well below the realized price (purple), i.e. the average price at which all ETH in circulation were acquired ($2,250).
👉 If the Bitcoin price falls again, ETH could return to $1,000 (green line).
👉 If BTC remains strong, ETH could rise back above the realized price, and in this case, it could accelerate towards $5,000 (red curve).
Historically, ETH has been undervalued between the green and purple lines of the indicator.
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