Has Ethereum hit bottom? – What THIS metric says about ETH’s future

• Ethereum dropped over 55% in 14 months amid sustained sell-side stress.
• The $1,800 help degree holds regardless of bearish sentiment and value volatility.

Ethereum’s [ETH] descent from a $4,000 peak in February 2024 to simply below $1,800 in April 2025 tells a narrative far deeper than a easy value crash.

There are indicators the worst could also be behind us

After 14 months of steady promoting stress, Ethereum’s market seems to be nearing a turning level.

Current CryptoQuant analysis highlights a major bullish divergence rising beneath the floor. Though Ethereum’s value has dropped to multi-month lows, a number of metrics point out that sellers are dropping momentum.

One key issue is Ethereum’s Web Taker Quantity (NTV). Traditionally deeply adverse, NTV peaked at -$360 million, reflecting intense and extended promote stress. Nevertheless, this stress is now easing.

Lately, NTV has begun forming larger lows regardless of Ethereum’s declining value, signaling a traditional bullish sample usually seen at main market inflection factors.

This divergence means that sellers are dropping management, hinting at a possible shift in market energy dynamics and the opportunity of a development reversal. 

Quantity breakdowns solely add to this evolving narrative

Between December 2024 and April 2025, Ethereum’s Taker Purchase Quantity noticed erratic but vital surges.

Supply: CryptoQuant

For instance, on the third of February, the Taker Purchase Quantity hit $19 billion as ETH hovered round $2,882.93.

Although value didn’t rally, the spike displays consumers making an attempt to soak up sell-side stress. By the first of April, that quantity had dropped to $4.75 billion, with ETH priced at $1,905.17.

In the meantime, the Taker Promote Quantity has additionally been tapering.

Supply: CryptoQuant

Promote volumes for Ethereum reached $601.6 million on the finish of December and surged to $17.6 billion in early February. Nevertheless, by the first of April, they’d considerably cooled to roughly $4 billion, indicating a decline in panic-driven sell-offs.

Moreover, Ethereum’s trade netflows present extra insights into shifting market dynamics. 

Supply: CryptoQuant

From December to March, whereas ETH tumbled 45%—from $3,278 to $1,810—withdrawals from exchanges elevated.

As an example, the twenty first of February noticed a web outflow of 257,700 ETH, with the worth sitting at $2,661.

Having stated that, there was one notable exception.

On the tenth of March, 120,900 ETH flowed into exchanges as the worth dropped to $1,866—seemingly representing short-term merchants liquidating.

Nonetheless, the broader development leans towards strategic accumulation

From a technical standpoint, Ethereum stays entrenched in a downtrend.

Worth motion continues to hug the underside of its Easy Transferring Common (SMA), which has acted as dynamic resistance since January 2025.

A number of failed rallies—most notably to $2,700 in February and $2,000 in March present persistent overhead stress.

Supply: TradingView

Nevertheless, there’s a twist.

Ethereum has constantly held the $1,800 help zone throughout a number of checks in March and April. Every rebound from this degree, mixed with reducing quantity throughout value dips, signifies that sellers could also be dropping momentum fairly than rising their efforts.

Key components such because the flattening OBV, trade outflows, and cooling Taker Promote Quantity recommend that $1,800 is perhaps growing right into a vital accumulation zone.

If Ethereum reclaims the $2,000–$2,200 vary, it may sign a development reversal. For now, $1,800 stays the central battleground, balancing between bearish continuation and bullish buildup.