This Special Metric May Provide Clues About the Future of Ethereum’s Price
Cryptocurrency analysis firm Alphractal has focused its attention on the MVRV Z-Score, one of Ethereum's (ETH) on-chain indicators. According to the company's assessment, on August 13th, the MVRV Z-Score returned to its March 2024 levels. Ethereum hadn't performed strongly during that period.
The MVRV Z-Score measures the difference between market value and realized value, adjusting for historical volatility. This metric is used to identify both periods of market enthusiasm and attractive accumulation opportunities for long-term investors.
According to data shared by Alphractal, the metric is currently trading below the on-chain “indecision zone.” Historically, this zone has acted as both a resistance and pullback area depending on whether the market is bullish or bearish.
For a more optimistic outlook, the indicator needs to surpass its August peak of 1.33. However, the MVRV Z-Score, currently at 0.9, suggests that Ethereum may face sideways consolidation and selling pressure in the short term.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
US Treasury Exempts Bitcoin from 15% Corporate Minimum Tax
Russia’s Bitcoin Plan: Central Bank Studies Crypto to Protect Ruble
From $0.25B to $77.4B: Strategy Inc. Bitcoin Journey
After the New SEC Regulation, Decision Dates Become "Invalid": Which of the Five Major Candidates Will Pass the Crypto ETF Review in October?
The approval process for crypto spot ETFs is shifting from case-by-case reviews to standardization, and the first batch of new ETFs may be launched as early as October. ETF applications for cryptocurrencies such as XRP, SOL, LTC, ADA, and DOGE are attracting significant attention. Summary generated by Mars AI. The accuracy and completeness of this summary are still being improved as the Mars AI model is iteratively updated.

Trending news
MoreCrypto prices
More








