Ethereum’s Whimsical Plunge: $4K Mirage? 😂💸

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In these dismal times, our dear Ethereum token finds itself mired in a most disagreeable bearish climate, having shed nearly half its value with the banal inevitability of a British farce in the first quarter of 2025. Much like the rest of the unfortunate altcoin coterie, ETH suffered a veritable hemorrhage following the pompous announcement of new trade tariffs by the ever-dramatic President Trump. One might almost chuckle at the absurdity! 😉

Even more curiously, the subsequent suspension of these tariffs failed to restore any semblance of bullish dignity to our “so-called king of the altcoins.” Despite all hopes of a regal recovery above the modest sum of $1,600 in the last day, Ethereum’s price has been rather unwilling to perform its role in this tragicomedy of financial setbacks.

Is The Price Bottom In For ETH?

Enter Cryptollica, that most enigmatic of crypto soothsayers, who recently graced the X platform with insights as delicate as a well-aged wine. According to this mysterious analyst, our beleaguered Ethereum may yet be on the cusp of an unexpected bullish reversal—one measured by the peculiar Mayer Multiple, which, in its own highbrow way, compares the asset’s present price to its 200-day moving average.

The 200-day moving average, that stately long-term benchmark of asset worth, is employed by the Mayer Multiple to gauge when the market is either giddily overheated or woefully oversold. When the indicator surges past 2.4, one might suspect a market too exuberant for its own good; conversely, a drop below 0.8 is whispered to signal that the price, much like an exhausted society after a masquerade ball, may have hit rock bottom.

A glance at the Glassnode chart—courtesy of our dear Cryptollica—reveals that the Ethereum Mayer Multiple has recently dipped beneath the fabled 0.8 threshold. This lowly moment suggests that ETH might be preparing for a rather dramatic reversal, as if the cosmic forces of finance had decided to inject a spot of merriment into the proceedings.

Curiously, the last time this dismal indicator dropped so low in the year 2022, Ethereum did indeed muster the resolve to rally above the illustrious $4,000 mark—a summit of sorts for the current cycle. Should history deign to repeat itself, we might witness the second-largest cryptocurrency embarking on a rather audacious journey towards a 150% rally, with a future seemingly as unpredictable as a dinner party hosted by the absurd.

Ethereum Price At A Glance

At the time of writing, ETH is meandering around the rather uninspiring figure of $1,550, marking a modest, almost indifferent, 1% rise over the past day. Though the market sentiment has, if nothing else, shown a hint of brightening (one might even call it a sunlit interlude), the weekly performance stubbornly refuses to improve. According to the ever-precise CoinGecko, Ethereum has plunged roughly 15% over the last seven days. Oh, the irony of modern finance! 😂

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2025-04-13 03:44