The recent sell-off in Ether (ETH) has resulted in the cryptocurrency losing the critical $1,500 support level, sparking concerns of a deeper correction before a potential recovery. Technical indicators are pointing towards a bearish outlook for ETH as data shows it dropped below its realized price, a metric that recalculates the market value of a cryptocurrency based on the price at which each coin last moved on the blockchain.
Analysts, including CryptoQuant contributor theKriptolik, have noted that when ETH trades below its realized price, it historically signifies a bearish trend. This scenario often leads to a capitulation phase where investors lose confidence and start selling en masse. Similar instances of ETH dropping below its realized price have preceded significant price declines in the
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