Viewpoint: Ethereum Sees MVRV Momentum Cross, Past Six Years Showed Four Instances Preceding 50%-166% Rallies

BlockBeats News, August 6th, according to crypto analyst alicharts, based on Ethereum's nearly 6-year price movement history, ETH often finds support around the re-accumulation price of MVRV 0.8 before advancing towards the price target (around $2300). Furthermore, this signal aligns with the previous four MVRV momentum crossovers, each of which resulted in a price surge of 50%-166%.

alicharts believes that $3000 should be considered a key resistance level, as there is a historical volume profile of over 10 million ETH at that point.