Ethereum temporarily fell to $1,415 on Monday amid a general decline in the cryptocurrency market, but then recovered to $1,505. Despite this, its price has dropped by 15% over the last 24 hours. Analysts note that the support level at $1,290 is critical, especially considering the activity of large holders. At the same time, the MVRV indicator suggests that the asset is undervalued, which may indicate potential for recovery.