ethetfs

Ether may be nearing another sharp rebound despite its recent sell-off, according to Tom Lee, who argues that historical patterns point to a familiar V-shaped recovery.Speaking at a conference in Hong Kong on Wednesday, Lee said Ethereum has repeatedly staged rapid rebounds after deep drawdowns. “Since 2018, Ethereum has fallen more than 50% eight times,” he said. “Eight out of eight times, Ethereum has had a V-shaped bottom.”Lee noted that in each case, Ether recovered at roughly the same speed as its decline. He added that last year alone, Ethereum dropped 64% between January and March, before rebounding.“Nothing has changed,” Lee said. “Ether will see another V-shaped bottom.”Analysts see signs of a near-term bottomLee said Ether appears close to a bottom similar to prior downturns in late 2018, late 2022, and April 2025, suggesting investors should focus on opportunity rather than capitulation.Market analyst Tom DeMark of BitMine flagged $1,890 as a potential downside target, describing a possible “undercut” scenario in which the level is briefly tested twice. Lee characterized such a pattern as a “perfected bottom.”“You don’t really have to worry about the bottom,” Lee said. “If you’ve already seen a decline, you should be thinking about opportunities here instead of selling.”Ether struggles below $2,000Ether has remained under pressure in recent weeks. Prices on Coinbase fell to about $1,760 on Feb. 6, just above the 2025 low near $1,400, according to TradingView.At the time of writing, Ether was trading around $1,970, having failed to reclaim the $2,000 level after a roughly 37% decline over the past 30 days.Staking demand reaches record levelsDespite weak price action, on-chain data points to strong long-term conviction. The wait time to stake Ether has climbed to a record 71 days, with roughly 4 million ETH in the validator entry queue, according to ValidatorQueue.The share of Ether supply staked has also reached an all-time high of 30.3%, or about 36.7 million ETH.“This is a massive supply restriction,” said crypto analyst Milk Road, noting that roughly one-third of Ether’s supply is now illiquid and earning around 2.83% APR. “When people lock up $74 billion during a price dip, they’re not speculating. They’re settling in.”The combination of historical rebound patterns and tightening liquid supply underpins Lee’s view that Ether may be approaching another rapid recovery phase, even as near-term volatility persists.