Here’s why Ethereum price remains above $1,800.
Ether (ETH)'s recent sell-off stalled at $1,800 as bulls aggressively defended the level. Ether's retracement above $2,100 on the chain and the technical data suggest that traders will hold the price above $2,000 for the short term.
Main Receptors:
Ether's profitability metrics will drop to historically low levels.
The MVRV Z-score and price bands suggest that ETH's decline to $1,800 was bearish.
The price of ETH has broken a multi-year trend line that has marked previous macro lows.
Ether traders realize losses
According to Onchain data, Ether's cost output profit (SOPR) is at 0.96, which means that ETH investors are still selling at a loss.
This measure dropped to 0.92 on February 6, when the price of Ether fell to $1,800 as traders realized losses between fear and extreme fear.
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SOPR used to measure ETH performance by comparing the value of coins to their last value when they were reissued.
A value below 1 may indicate buying power or a bearish market, which may indicate a good time to buy.
Historically, this situation has often preceded price recoveries. Following Ether's drop to $1,500 in April, SOPR dropped to 0.86, followed by a 246% price recovery to its current all-time high of $4,950.
Similar conditions followed in 2022 and 2023 with ETH price rallies of 130% and $155% respectively.
As such, some investors saw the drop to $3,000 as a buying opportunity.
MVRV Z-Score Ether is down by $1,800.
Ether's MVRV Z-Score, a key on-chain metric used to identify market tops and bottoms, has entered the historical accumulation zone (the green line on the chart below), strengthening the argument that ETH may have bottomed.
The last time Ether's MVRV Z-score dropped to current levels was in April 2025 after a 66% price drop. This coincided with a macro market low of $1,400 and preceded a multi-month rally, with the ETH/USD pair up 258% to its current all-time high of $4,950.
Meanwhile, the 0.80 MVRV price band, historically the lowest level of the cycle, is currently at $1,880.
This suggests that from an onchain perspective, Ether is undervalued and may continue its sustained recovery, potentially growing into dense liquid pools between $2,400 and $2,600 in the short term.
ETH price is sitting on strong support above $1,800
Data from TradingView shows that ETH price has successfully held above a key support zone over the past two months as shown in the chart below.
This position is around $1,800, where investors have earned more than 1.35 million ETH, according to Glassnode's cost base distribution heat map.
This level As seen in 2022 and April 2025, ETH/USD is matching a multi-year trend line that has marked historical lows.
Ether's recovery from this level in early February suggests that the trendline still remains as support, paving the way for a sustained recovery towards $4,800.
According to Cointelegraph, a break below $2,000, where the 20-day EMA and 50-day SMA converge, could push the price to the next major support at $1,750.
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