Just looked at the ETH rainbow chart again and it's wild how these long-term valuation bands actually hold up. So back in early 2026 the chart was pointing to ETH staying in that 'Still Cheap' zone around $2,900, and here we are a few months later sitting at $2.31K. The rainbow chart basically divides Ethereum's price into colored bands from 'Fire Sale' all the way up to 'Maximum Bubble Territory' based on its growth curve. Right now we're positioned where the chart suggests we're still relatively undervalued compared to the long-term trend but not in extreme discount territory anymore. The cool thing about this eth rainbow chart is it doesn't try to predict exact prices - it just shows you where ETH sits historically. If momentum stays steady, we could gradually move into that 'Steady' band which would mean mid-$3K territory. Honestly the rainbow chart framework has been pretty useful for understanding whether we're in a reasonable entry zone or getting too euphoric.