Ethereum has shown resilience despite recent selling pressure, with investors moving large amounts of ETH onto exchanges. This activity suggests caution, but also hints at a potential upward breakout in February.
Despite $390 million worth of Ethereum flowing into exchanges, the price hasn't sharply declined, indicating investors' belief in a limited downturn.
The MVRV Score shows Ethereum remains undervalued, supporting a possible price recovery as broader market conditions stay favorable.
Trading within a falling wedge pattern, Ethereum is poised for a bullish trend reversal if it breaks past the $3,303 resistance level, with further targets at $3,530.