Ethereum (ETH) Flips Solana (SOL) in Key Network Metric, Signaling Possible Trend Reversal

A top crypto market analyst has stated that Ethereum is “extremely undervalued” after recording four consecutive months of negative returns.

A top crypto market analyst has stated that Ethereum is "extremely undervalued" after recording four consecutive months of negative returns. This prediction comes after the Ethereum network flipped Solana in a key metric, signaling a possible trend reversal.

What Network Metric Did Ethereum Flip Solana In?

The Ethereum network has been lagging behind Solana in terms of decentralized exchange (DEX) volumes for the last six months. However, Ethereum has now flipped Solana in another key metric- total decentralized finance (DeFi) volumes.

According to DeFiLlama, Ethereum has attained monthly DEX volumes of $64 billion, which is higher than Solana's $52 billion in volumes. The data further shows that Solana has been topping this metric since October.

The main reason why Ethereum has retaken the top spot is because of fading meme coin activity on Solana. Despite PumpFun's attempts at diversification, the ongoing market turmoil has hampered speculative trading activity that is rampant with meme coins.

However, this narrative might soon change as the DeFi protocols on Solana are quickly expanding and attracting more users to the network.

Top Analyst Predicts That Ethereum Is Extremely Undervalued

According to top crypto market analyst Crypto Rover, Ethereum price shows signs of being "extremely overvalued." In his Ethereum price prediction, the analyst observed that ETH had posted four consecutive red months. This scenario was last seen during the 2018 bear market before a strong upward breakout.

If ETH is indeed undervalued, it suggests that the recent dip may have pushed the altcoin to a local bottom. This might precede a strong move to the upside.

However, despite the analyst's positive forecast for Ethereum price, ETH is facing intense selling pressure. A recent Coingape article reported that since February 25, Ethereum whales have sold more than 760,000 tokens. At the same time, ETH ETF inflows from SoSoValue show intense selling by institutions.

Ethereum Technical Analysis As Q2 Tips At 60% Gains

The Q2 average return for Ethereum price is a 60% surge, and this coin records stellar performance during this quarter.

On the shorter 4-hour time frame chart, Ethereum price has formed a rounding bottom pattern, which might precede a reversal of the trend from bearish to bullish. The height of this rounding bottom suggests that ETH can record a 7.96% price rally from its current price and reach $2,062.

Breaking the $2,000 psychological barrier is bullish for Ethereum, and could spark the beginning of a positive quarter for this altcoin.

The RSI has risen to 50, which is a neutral level where both buyers and sellers are battling for control. Meanwhile, the AO bars have flipped to the positive side, a sign that the underlying momentum is now bullish.

To sum up, Ethereum is flashing positive signals, which suggest that the price might soon soar past the $2,000 psychological barrier. With analysts predicting that ETH may be extremely undervalued and network activity rising, the altcoin might be on the verge of a trend reversal.

Frequently Asked Questions (FAQs)

1. Is Ethereum outpacing Solana in network activity?

2. Is Ethereum price undervalued?

3. Can Ethereum rise to $3,000 in Q2 2025?