Ethereum Investors Remain Optimistic

According to data from analytics platform Glassnode, the drop in the price of ETH has not shaken investors' faith. This can be seen from the chart of holders’ activity: the indicator shows a decline, indicating their bullish mood. If market participants continue to hold coins, the Ethereum price may begin to recover.

In addition, only 87% of the circulating supply is currently in profit. This is well below the market top threshold of 95%, indicating significant potential for growth.

The combination of these factors suggests that Ethereum has the potential to emerge from the current consolidation phase.