Ethereum Flashes Bullish MVRV Signal Seen Before Major Price Rallies
- Ethereum’s MVRV Golden Cross has previously preceded strong rallies, renewing bullish sentiment among traders.
- Glassnode data suggests Ethereum’s recovery is gaining strength without showing signs of an overheated market.
- Growing Ethereum purchases by traders and institutions point to rising confidence in the token’s outlook.
Ethereum has flashed a historically bullish on-chain signal, according to crypto analyst Ali Charts, reviving expectations that the token could extend its recovery. In a post on X, Ali said Ethereum’s MVRV Golden Cross had been confirmed, noting that the previous four signals preceded gains of 50%, 166%, 74% and 113%.
The signal comes from Glassnode’s Market Value to Realized Value (MVRV) Ratio, an on-chain metric that compares Ethereum’s market price with the average price at which existing coins last changed hands. Traders use it to gauge wh…
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