For the many who presumed that sub-$2,000 Ethereum could never be a thing again as prices were soaring about $4,000 just six weeks ago, it's been a wild ride. Here's how things look now:

Bullish Signs

MVRV (30-day)

Historically, an average MVRV (30d) of -16.9% implies a less risky opportunity to buy than normal.

Weighted Social Sentiment (Twitter)

The crowd sentiment toward Ethereum is historically low now, a great potential opportunity to buy against the masses.

Average Fees

ETH fees are at their lowest point since December, 2020, clearly allowing more flexibility for users to move assets.

Neutral Signs

Active Addresses vs. Deposits

There was a pretty large uptick in active deposits a few days ago, but more or less, non-active addresses vs. active deposits are about even with one another, historically.

Bearish Signs

Supply on Exchanges

Supply has moved back to exchanges considerably since May's all-time high.

NVT

Token circulation has dried up heavily compared to market cap.