What follows for ETH in the midst of the bearish trend caused by Trump's tariff decisions?

ethereum collapsed briefly at $ 1,415 on Monday in the middle of a wider blood bath. Since then, the cryptographic asset has recovered and is currently traded at $ 1,505. Despite this, its price still fell by 15% in the last 24 hours.

This strong decrease occurs when the broader cryptocurrency market negatively reacts to the intensified global global tariff approach of the Trump administration. The data suggests that the support level of $ 1,290 now marks a critical threshold for ethereum, with the average cost base of the whales that indicate the potential recovery or a greater decrease.

ethereum's next great support

Cryptoquant's <a target="_blank" href="https://cryptoquant.com/insights/quicktake/67f384040c912a79520aedbf-eth-Next-Major-Support-Level-129K” target=”_blank” rel=”noopener” data-wpel-link=”external”>analysis It indicates that the next level of main support of ethereum is $ 1,290, where the average cost base (price) of the whales that has more than 100,000 eth. With the average cost base for all ethereum holders around $ 2,200, many face losses.

Despite this, the analytical platform in the chain declared that Altcoin has shown resilience in the past, as during the terra-luna crisis in June 2022, when it reached a minimum of $ 870 but quickly recovered. This suggests recovery potential even in challenging market conditions.

Meanwhile, whale activity and market behavior indicate that there may be more challenges ahead. As the price of the asset received great success, spot in the chain <a target="_blank" href="https://x.com/spotonchain/status/1909166458896298448″ target=”_blank” rel=”noopener” data-wpel-link=”external”>reported

Despite the recent deposit, the whale still has 23,070 eth, for a value of around $ 34.5 million, and has been downloading tokens during prices decreases. The last movement seems to be bassist for its short -term price.

When a whale deposits a large amount of an asset to an exchange of encryption, it often indicates that they can be preparing to sell, especially considering that this particular whale has been downloading tokens during price falls.

ethereum hugely underestimated

In a positive note, Intoteblock has <a target="_blank" href="https://x.com/intotheblock/status/1909158017527914603″ target=”_blank” rel=”noopener” data-wpel-link=”external”>reported This market value of Ether to the value ratio made (MVRV) has fallen to 0.87, which represents its lowest point since December 2022. This metric indicates that the asset is currently undervalued.

An MVRV under suggests potential for a price recovery, since it reflects the possibility of accumulation among investors to discounted levels.

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