Ether's price has shown a rare Dragonfly Doji candlestick on its monthly chart, a pattern often seen before major bull markets. The MVRV Z-Score indicates undervaluation, while Ether is retesting its long-term parabolic support zone from the 2017 rally. The combination of technical and onchain signals resembles those from the early stages of the 2017 bull run, which resulted in significant gains. If bulls confirm the signal with a strong May open above $1,950, Ethereum could be poised for a multi-month rally towards $2,100. The MVRV Z-Score entering the accumulation zone suggests a potential cycle bottom, similar to past market bottoms that preceded significant rallies. This analysis does not offer investment advice, and readers are encouraged to conduct their own research before making any financial decisions. Read more AI-generated news on: https://app.chaingpt.org/news

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