CandleFocus

Ethereum (ETH) Whales Accumulate as Surge Past $4,100 Remains Delayed

Author: Content Editor
The price of Ethereum (ETH) has recently exceeded $4,000 for the first time since March 2024, showing a 25% gain in the past 30 days. However, the 7-day MVRV ratio suggests that short-term holders are currently experiencing unrealized losses, indicating potential further downside before a recovery. In the past, ETH has rebounded after the MVRV dropped to -4% or lower, coinciding with increased accumulation by large holders. ETH is facing resistance at $3,987, and breaking this level could lead to higher prices. On the other hand, bearish signals from converging EMA lines could test support at $3,500 or lower. The increasing number of addresses holding at least 1,000 ETH suggests growing confidence among major investors. The current price range for ETH is between resistance at $3,987 and support at $3,763. If the resistance is broken, the price could climb higher, but bearish indicators and the 7-day MVRV suggest possible further corrections and downside pressure.

Related News