Ethereum Sentiment Plummets to Year Lows Amid Price Weakness, Potential Rebound on Horizon

Ethereum's market sentiment has declined sharply, reaching year-low levels as of today, driven by persistent weak price action. According to Santiment, crowd sentiment shifted from bullish between March and September 2024 to significantly bearish since then, reflecting investor caution as ETH struggles to hold above key support levels. Despite the bearish sentiment, Santiment suggests this negativity could signal a potential comeback once cryptocurrency markets normalize. IC News notes that the Ethereum Market Value to Realized Value (MVRV) Z-Score is approaching the green zone, indicating potential undervaluation. ETH's price is currently dropping toward the $2,100 level, but IC News suggests it has entered a "Spring Phase," hinting at a possible rally to recover the $4,000 mark.