ETH Falls Into ‘Buy Zone,’ but Volatility-Adverse Traders Take a Wait-and-See Approach

Why It Matters

The sub‑1 Mayer Multiple suggests a long‑term accumulation phase that could spark a rebound, while the lingering liquidity clusters warn traders to stay cautious in the near term, shaping market positioning and risk management across the crypto sector.

Summary

Ethereum slipped nearly 20% in November, retesting the $3,000 level for the first time since July and entering a clear daily downtrend. The Mayer Multiple dropped below 1 – a historic buy‑zone signal that has preceded multi‑month recoveries in the past. Meanwhile, leveraged long‑liquidation clusters around $2,904‑$2,916 and $2,760‑$2,772 indicate short‑term volatility, even as overall liquidity has fully reset, a pattern seen before major bottoms. Analysts warn that a deeper liquidity flush may be needed before a durable base can form.