3 Bullish Signals Suggest Ethereum May Be Undervalued in April

Ethereum has recently outperformed the market, gaining over 12% amidst global volatility. Analysts have identified three key bullish signals suggesting ETH may be undervalued in April. Firstly, Ethereum's mainnet recorded a record 3.62 million transactions on April 12, indicating robust network activity and sustained organic growth, evidenced by increasing daily transactions since November 2025, a rise in new users, and a growing stablecoin supply. Despite this, ETH's price remains over 50% below its all-time high, creating a significant gap between network usage and market valuation, which historically tends to narrow. Secondly, technical indicators are flashing bullish. The Ethereum Rainbow Chart suggests ETH is currently "cheap," a condition that has historically preceded significant price rallies within 18 months. Thirdly, a confirmed weekly MACD bullish crossover has occurred, an indicator that has previously preceded substantial rallies of 183% and 75% for ETH. With ETH trading around $2,346 as of April 14, these signals point to potential price targets of $6,639 or $4,105. The extent to which these on-chain strengths and technical signals translate into sustained price action will likely depend on broader macroeconomic conditions in the second quarter.

(Source：BeInCrypto)