Ethereum (ETH) price has climbed 46.11%, marking impressive growth but still making it the second-worst performer among the top 10 largest cryptocurrencies. Its recent rally is supported by increasing whale accumulation and a 7-day MVRV signaling neutral to slightly bullish sentiment.
However, key resistance at $3,600 could determine whether ETH continues its upward trajectory toward $4,000 for the first time since December 2021. On the downside, a reversal could lead to a significant correction, with strong support at $3,000 and a potential drop to $2,359 if bearish pressure intensifies.
ETH 7D MVRV Shows An Important Threshold To Be Surpassed
Ethereum MVRV 7D is currently at 3.8%, signaling a neutral to slightly bullish position in terms of short-term profit-taking behavior. The MVRV 7D metric compares the market value to the realized value for coins moved in the past seven days, providing insights into the profitability of recent traders.
When MVRV 7D is low, it indicates that traders are holding at a loss or minimal profit, reducing selling pressure, whereas higher values suggest increasing profit-taking risks.
Historically, ETH price has struggled to maintain upward momentum when its MVRV 7D enters the 5–7% range, often triggering corrections. However, its recent rise to 13% before a 10% correction shows that breaking this zone could fuel sustained bullish momentum.
If MVRV 7D exceeds the 7% threshold again, ETH price may experience significant gains, potentially surpassing 10%, as bullish sentiment builds and traders resist taking profits in anticipation of further upside.
Ethereum Whales Are Back
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Author: Tiago Amaral
