As of April 28, 2025, Ethereum's search interest has plummeted to bear market levels, suggesting potential undervaluation and presenting trading opportunities for savvy investors.

On-chain data indicates a 10% decrease in daily active addresses for Ethereum, with only 405,000 active as of April 27, reflecting a decline in network engagement.

Despite the drop in retail interest, on-chain metrics show a 7% increase in ETH staked on the Ethereum 2.0 network, reaching 32.5 million ETH, indicating confidence among long-term holders.

Trading volume for ETH across major exchanges fell to $18.2 billion on April 28, down from $21.5 billion a week earlier, highlighting a reduction in market momentum.

On the same day, ETH was trading at $3,150 on Binance, marking a 2.3% decline within the past 24 hours, while its value against Bitcoin was 0.048 BTC, down 1.8% over the week.

Technical analysis reveals that ETH is nearing a critical support level at $3,100, with resistance at $3,300, and the Relative Strength Index (RSI) indicates oversold conditions at 38.

The Moving Average Convergence Divergence (MACD) has shown a bearish crossover, with the signal line positioned below the MACD line as of April 28.

This combination of low search interest and decreased network activity often signals capitulation, which can set the stage for a potential price rebound.

Crypto analyst Crypto Rover noted that the current low search interest mirrors previous bear market bottoms, suggesting diminished public attention on Ethereum.

Overall, the bear market-level search interest for ETH, alongside technical indicators and declining volumes, underscores the necessity for traders to monitor potential price reversals and optimize their entry points.

Historically, ETH has shown a tendency to rebound faster than Bitcoin during shifts in market sentiment, presenting potential swing trading opportunities.

Interestingly, while Ethereum faces challenges, AI technologies are gaining traction in crypto trading, with AI-related tokens experiencing an average price increase of 3.2% over the past 24 hours, potentially boosting interest in major assets like ETH.