以太坊（ETH）的价格在浸入低于$ 1600的价格后尝试稳定

输入：以太坊价格低于$ 1,600，试图稳定。长期持有人几个月来首次进入投降领域。

Ethereum (ETH) price has been attempting to stabilize after dipping below the crucial $1,600 psychological support amid a surge in user activity and on-chain whale movement.

以太坊（ETH）的价格在低于至关重要的1,600美元的心理支持下，在用户活动和链上鲸鱼运动的激增之后，一直试图稳定。

However, this downward pressure has pushed long-term holders into capitulation territory for the first time in months, signaling a potential shift in market sentiment.

但是，这种下降压力使长期持有人在几个月内首次促进了投降领域，这表明市场情绪可能发生了变化。

As the cryptocurrency attempts to find a footing, analysts believe that ETH price could be approaching a turning point that may trigger the long-awaited breakout from the 18-month ranging market.

当加密货币试图找到立足点时，分析人士认为，ETH价格可能正在接近一个转折点，这可能会引发已久的18个月范围市场的突破。

One analyst, known as CryptoELITES on X (formerly Twitter), has projected a bullish roadmap for Ethereum, forecasting a $5,000 price target by May 2025 after the final shakeout.

一位在X（以前为Twitter）上被称为CryptoElites的分析师预计，对以太坊的看涨路线图，预测在最后一场摇摆之后的2025年5月的价格目标为5,000美元。

The analyst highlighted a historical pattern of accumulation followed by a steep expansion phase.

分析师强调了积累的历史模式，然后是陡峭的扩张阶段。

Ethereum has encountered strong support at the $1,800 level, with the price rebounding multiple times from this zone.

以太坊在1,800美元的水平上遇到了大力支持，从该区域进行了多次折扣。

According to CryptoELITES, the ongoing decline is the final shakeout before the price embarks on a parabolic expansion.

根据CryptoeLites的说法，持续的下降是价格促进抛物线寄生力扩张之前的最后动摇。

The projected path aligns with previous cycles where similar consolidation zones preceded explosive breakouts.

投影路径与以前的周期对齐，在爆炸性突破之前，相似的合并区域。

If this roadmap plays out, ETH could rally significantly once the 2021 all-time high (ATH) is cleared.

如果该路线图发挥了作用，一旦清除了2021年历史最高（ATH），ETH就会大声疾呼。

The chart vividly split the structure into a bottoming phase, currently in progress, followed by projected upside momentum, aiming for new all-time highs.

该图表生动地将结构分为底部阶段，目前正在进行中，其次是预测的上行势头，旨在寻求新的历史最高点。

By pegging Ethereum's potential to transition into a new bullish phase, CryptoELITES highlighted a long-term opportunity despite the short-term volatility.

通过将以太坊过渡到新的看涨阶段的潜力，加密货币强调了长期的机会，尽管短期波动。

On-Chain Metrics Signal Capitulation and Value

链上指标信号投降和价值

In other developments, on-chain metrics suggest that experienced holders, known as Long-Term Holder Net UnProfitable Participants (LTH-NUPL), have entered capitulation territory.

在其他发展中，链界指标表明，经验丰富的持有人（称为长期持有人净无利可图的参与者（LTH-NUPL））进入了投降领域。

This metric turning red is a rare occurrence and has historically marked the final stages of a bearish phase.

这种指标变红是罕见的发生，历史上标志着看跌阶段的最后阶段。

As LTHs begin to surrender, it often sets up the stage for a trend reversal.

随着LTHS开始投降，它经常为趋势逆转而设置舞台。

This observation aligns with the behavior of the MVRV Long/Short Difference, which has plunged to -22.26, indicating that ETH price is massively undervalued.

该观察结果与MVRV长/短差的行为一致，后者跌至-22.26，表明ETH价格被大大低估。

Again, such levels are typically seen at times of maximum pain and have marked ideal accumulation zones in past cycles.

同样，通常在最大疼痛的情况下可以看到这样的水平，并且在过去的周期中标记了理想的积累区。

Such conditions usually create opportunities for strategic investors to rotate out of low-yielding assets and into crypto.

这种条件通常为战略投资者创造机会从低收益资产中旋转并进入加密货币。

An uptick in large transactions, often linked to whale activity, was also observed last week, with over 530,000 ETH being transferred between major wallets.

上周还观察到了大型交易的上升，通常与鲸鱼活动有关，其中主要钱包之间转移了530,000多个ETH。

One notable event was the sale of 10,702 ETH by a dormant 2016-era wallet, which previously sold only during major corrections, hinting at an effort to trigger panic before recovery.

一个值得注意的事件是通过休眠的2016年小钱包出售10,702 ETH，该钱包以前仅在重大纠正期间出售，这暗示着一种努力在恢复前引发恐慌。

Despite Bearish Sentiment, User Activity Surges

尽管看跌感，但用户活动激增

Despite the falling price and LTH capitulation, Ethereum network activity has seen a remarkable spike.

尽管价格下降和第LTH投降，但以太坊网络活动的激增。

Daily active addresses reached 573,000, and transaction volume hit 1.42 million on April 9, the highest since November 2021.

每日活动地址达到573,000，交易量达到4月9日，是2021年11月以来最高的。

This increased activity during market stress suggests a rise in network utility and interest at lower valuations.

市场压力期间的活动增加表明网络公用事业的增加和估值较低的兴趣。

Notably, both metrics shot up to new all-time highs this year at the beginning of 2024, signaling that even during downturns, Ethereum is still drawing attention.

值得注意的是，这两个指标在2024年初都达到了今年的新历史最高点，这表明即使在低迷时期，以太坊仍在引起人们的注意。

The uptick in transactions also speaks to greater adoption, possibly with new users entering at perceived bargain levels.

交易的上升也说明了更大的采用，可能是新用户进入可观的讨价还价水平。

It reflects confidence in Ethereum's long-term prospects beyond short-term trading.

它反映了以太坊超越短期交易的长期前景的信心。

The case of user engagement supports the establishment of a reversal.

用户参与的情况支持建立逆转。

It can be noted that the seasonal increase in user activity corresponds to macro accumulation phases when prices are low.

可以注意的是，用户活动的季节性增加对应于价格低时的宏积累阶段。

The correlation of the user interest and undervaluation metrics indicates that the ETH might be in the process of developing a bottom.

用户兴趣和低估指标的相关性表明，ETH可能正在开发底部。

Moreover, according to crypto analyst TedPillows, the $1.3K–$1.6K range is a generational entry point for Ethereum.

此外，根据加密分析师Tedpillows的说法，$ 1.3K - $ 1.6K的范围是以太坊的一代入口点。

The analyst highlighted three stages: accumulation, manipulation, and expansion.

分析师强调了三个阶段：积累，操纵和扩展。

According to his analysis, the top altcoin price has exited the accumulation zone and is now undergoing a final manipulation phase.

根据他的分析，最高的Altcoin价格已经退出了积累区，现在正在进行最终的操纵阶段。

He further noted that institutional adoption is being driven and the market capitalization of stablecoins is massively growing.

他进一步指出，正在驱动机构的采用，而稳定币的市值正在大大增长。

Thus, there is bearish pressure at the best possible level, and this is another typical sign of a bottoming formation.

因此，在最佳水平上存在看跌压力，这是底部形成的另一个典型迹象。

When they are put together, his outlook aligns with the notion that ETH is about to swing to a bullish trend.

当他们放在一起时，他的前景与ETH即将趋向看涨趋势的观念相吻合。