Ethereum’s market value recently sat above its realized value, with its MVRV ratio at 1.2, hinting at a subtle overvaluation.
Historically, Ethereum has shown support near MVRV levels around 1, marking a significant accumulation phase for investors aiming to buy low.
Some Ethereum holders view this period as an opportunity, positioning themselves for potential gains once momentum builds. Ethereum’s Supertrend support suggested that bulls could push the price higher, provided ETH breaks above the $2,570 level. For now, Bitcoin’s dominant presence at over 60% remains a significant indicator of the market’s current appetite for security.
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