Ethereum’s MVRV Hits 1.97 — Can Bulls Hold Their Ground?
Ethereum (ETH) stands out with one of the best price performances from last week as a general bullish sentiment swept across the crypto market. During this period, the dominant altcoin gained by 9.06% with its prices briefly entering the $4,700 price range. As the majority of investors hold green positions, on-chain data support price movements to remain bullish, albeit only for the short term. Related Reading: Ethereum Validator Slashing Puts Cardano’s Resilience In Focus – Here’s Why Ethereum MVRV Suggests Positive Momentum, Eyes On 2.4 Barrier Prominent crypto analyst Burak Kesmeci has....
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Ethereum’s brief upswing on Sunday was met with significant resistance at the $2,600 price, which triggered a bearish wave, pushing its price back to $2,360. While its price is demonstrating weakening momentum, reports show that several ETH key metrics have moved into positive territory. A Positive Turnaround For Ethereum’s Market Dynamics In a surprising turn […]
Ethereum is once again under heavy selling pressure after losing the critical $2,000 level — a psychological and technical zone that bulls have struggled to defend in recent weeks. With price action turning increasingly bearish, investor sentiment is weakening, and analysts are warning that a deeper correction may be on the horizon. As Ethereum slides lower, concerns are growing across the broader crypto market, which often relies on ETH’s strength to lead recovery phases. Related Reading: Bitcoin OTC Desks Are Draining – Supply Squeeze On The Horizon? The current situation is both....
Ethereum’s price has mirrored Bitcoin’s recent market movements. ETH experienced a rollercoaster performance earlier this week before rebounding with a 10% increase in the past 24 hours. This recovery follows a broader market correction that initially led to fear among investors. While Ethereum’s performance remains closely linked to Bitcoin’s price action, recent on-chain data suggests that ETH may enter a renewed accumulation phase. Related Reading: Ethereum Weekly RSI Drops To Lowest Level Since May 2022 – More Selling Pressure Ahead? MVRV Ratio and Institutional Accumulation....
Dubbed MVRV, the indicator represents the ratio of Bitcoin's Market Value to Realized Value. Bitcoin's (BTC) pullback from its record high of $67,000 to below $60,000 has not deterred bulls from eyeing another peak level ahead, per an indicator that attempts to predict market bottoms and tops.Dubbed MVRV, the risk metric represents the ratio of Bitcoin's market value to its realized value — similar to the price to book (P/B) ratio that compares a company's market value to its book value. In doing so, MVRV attempts to identify whether an asset is under or overvalued.A 2017-like bullish....
On-chain data shows that the Bitcoin Market Value to Realized Value (MVRV) ratio is doing a retest that has historically been significant for BTC. Bitcoin MVRV Ratio Is Retesting Its 365-Day SMA Right Now As explained by an analyst in a CryptoQuant Quicktake post, the Bitcoin MVRV ratio is retesting a level that has acted as an important psychological level in the past. The “MVRV ratio” here refers to a popular on-chain indicator that, in short, compares the value that the investors are holding (that is, the market cap) against what they used to purchase the cryptocurrency (the....