Ethereum is in a five-year “demand zone,” according to analysts

Ethereum prices have fallen to bear market lows and are currently in a long-term demand zone, analysts say.

“Ethereum is in a five-year demand zone,” analyst Merlijn The Trader said on Monday. “Historically, this reach has been accumulation and not distribution,” he added.

Ether prices are currently back to April 2025 levels, where they briefly fell below $1,500. They are also back at the long-term low between July 2022 and November 2023, which was a deep bear market and accumulation zone. However, they can wallow around this level for months to come.

Nevertheless, the analyst remains confident that “momentum is building for a potential explosive run.”

ETHEREUM IS IN A 5-YEAR DEMAND ZONE.

Perfect entries do not exist.

Historically, this range
There has been accumulation, not distribution.

You don’t need the exact bottom.
You need exposure before you can expand.

Large bases don’t float.
They reprice. pic.twitter.com/0TQ23J2Lnx

— Merlijn The Trader (@MerlijnTrader) February 23, 2026

Ethereum is a long-term investment

Investor ‘StockTrader Max’ said that Ethereum is no longer a “get rich quick” asset that turned early holders into millionaires overnight. They also noted that ETH was still in a five-year accumulation zone.

“If you own ETH to make a lot of money next week or month, you will probably be disappointed. Ethereum is an asset that should be held in many wallets with a time horizon of years and NOT months.”

Fellow analyst ‘Sykodelic’ identified a “nice hidden bullish divergence printed on the weekly chart.” A hidden bullish divergence occurs when the RSI (relative strength index) makes a lower low but the price makes a higher low. “It means that the momentum was actually stronger, but the price absorbed it better,” they said before adding:

“The last time this happened, ETH rose 100%.”

“Crypto has a lot of tailwinds, but the price action is terrible,” says Tom Lee of Fundstrat.

His Ethereum DAT BitMine continues to buy the dip and bet, adding another 51,162 ETH in the past week, according to to a Monday update.

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“In the midst of this ‘mini-crypto winter’, our focus remains on methodically executing our treasury strategy and steadily acquiring ETH and, in turn, optimizing returns on our ETH holdings,” he said.

ETH price drops again

Ether failed to hold above $1,900 and has fallen to $1,830 during Tuesday morning’s Asian trading session at the time of writing.

The asset is now not far off the February 6 low and does not appear ready for a move to the upside despite all the positive fundamentals.