Many ETH investors are enduring unrealized losses, similar to ETH's early 2020 bottom before its explosive rally.Data suggests that historic recoveries have followed phases of unrealized losses, presenting an opportunity for long-term ETH investors.ETH's underperformance compared to Bitcoin has led to a lower ETH-BTC NUPL, indicating potential accumulation opportunities.ETH is testing crucial demand above $3,000, with a potential breakout leading to a challenge of yearly highs.