Pseudonymous trader NoName argues Ethereum has entered its historical bear market bottom zone between $1,300 and $1,900, citing four consecutive lower highs as evidence the downtrend has ended. NoName is buying through the dip with a long-term target of $7,000, stating that the same psychology that made ETH a favorite at $4,900 now works against it below $2,000. Other on-chain signals, including a bullish MVRV crossover and a six-month high in funding rates, suggest improving sentiment. However, not all analysts agree; CryptoQuant notes that capitulation is still missing, while another trader warns of a potential bull trap near $2,000 before a final drop.
Pseudonymous crypto trader NoName says Ethereum has just entered its historical bear market bottom zone, pointing to four straight lower highs as proof the downtrend has run its course. The trader is buying through the dip with a long-term target of $7,000. “That’s not logic, that’s psychology, and psychology marks bottoms,” NoName wrote, adding that ETH at $4,900 was a favorite while below $2,000 is called a dead chain.
Chartist Ali Martinez pointed out a bullish crossover in ETH’s MVRV ratio against its 160-day moving average, a setup that has preceded several major recoveries. Meanwhile, Arab Chain reported that Ethereum’s 30-day funding rate average on Binance hit its highest level in six months near 0.00339, a sign of improving sentiment though not at correction-linked extremes.
ETH traded near $1,900 at the time of writing, up roughly 12% over the past month but still 62% below its all-time high. CryptoQuant struck a cautious note, noting that only two of five bottom-signal metrics have reached historical extremes and that “capitulation is still missing.” Whale buying has continued regardless: Lookonchain tracked a wallet purchasing 27,000 ETH worth $52 million through Galaxy Digital’s OTC desk, and Arthur Hayes
