Ethereum's recent price movement has been marked by significant volatility, with an 11% surge in the past 24 hours failing to sustain a meaningful recovery.
The altcoin king continues to struggle within a broader consolidation structure, with persistent hesitation among investors capping upside momentum.
Despite this, on-chain data suggests that Ethereum remains undervalued compared to its peers, with the Market Value to Realized Value (MVRV) ratio indicating an opportunity for recovery.