Ethereum Reclaims $3,150 as NUPL Indicates Market Stability

Ethereum shows strong recovery potential after regaining the $3,150 level amid market stabilization. This follows a period of heavy selling pressure and uncertainty.

The Net Unrealized Profit/Loss (NUPL) for Ethereum is around 0.22, indicating moderate profit levels among holders.
NUPL remains below the "greed" zone, suggesting the market isn't overheated, fostering a balanced outlook.
The current phase appears neutral, with cautious optimism among investors, setting the stage for potential recovery.

NUPL Signals a Transitional Market Phase

Ethereum's NUPL saw significant growth between June and August, reflecting high profitability and positive sentiment.
Despite a price decline post-October, NUPL has not turned negative, showing average holders remain in profit.
This stability reduces panic selling risks and supports price action during corrections.

Overall, Ethereum is in a transitional phase awaiting decisive catalysts, with investor confidence likely to support a rebound if conditions improve.

ETH Rebounds Strongly on the Weekly Chart

Ethereum's price has surpassed the $3,150–$3,200 region, reestablishing a critical support band.
A strong buy-side interest is confirmed around the $2,700–$2,800 zone.
Reclaiming the 100-week SMA near $2,900 suggests renewed stability, while the 50-week SMA at $3,350–$3,400 is the next resistance.

Increased trading volume indicates growing market confidence, but breaking the descending structure of lower highs is essential for a sustained uptrend.