Analysis: The Ethereum MVRV indicator shows that the price has entered a long-term bottom zone.

ETH-1,45%

ChainCatcher reports that, according to analyst @alicharts, the current Ethereum MVRV (Market Value to Realized Value ratio) has dropped to 0.78. Historically, when the MVRV ratio falls below 0.8, ETH is usually near a long-term bottom. However, the market is still in a phase of heavy distribution.

@alicharts suggests that if selling pressure continues, the potential support levels are: $1800, $1584, $1238, and $1089.

View Original
Disclaimer: The information on this page may come from third parties and does not represent the views or opinions of Gate. The content displayed on this page is for reference only and does not constitute any financial, investment, or legal advice. Gate does not guarantee the accuracy or completeness of the information and shall not be liable for any losses arising from the use of this information. Virtual asset investments carry high risks and are subject to significant price volatility. You may lose all of your invested principal. Please fully understand the relevant risks and make prudent decisions based on your own financial situation and risk tolerance. For details, please refer to Disclaimer.
Comment
0/400
No comments